Court of Appeals for the Fifth Circuit December 12, 1967, 24877 (Joe G. Strahan D/B/A Strahan Drilling Company and L. T. Murphy v. Frank A. Pedroni)

SCOTT, District judge:

Appellees brought suit under the Federal Securities Act of 1933, 15 U.S.

*731

C.A. § 77a et seq., and under the Florida Sale of Securities Law, Florida Statutes, § 517.01 et seq., F.S.A., for rescission of a written contract whereby appellants agreed to sell certain fractional shares in gas wells to appellees in violation of the registration requirements of these Acts.