Court of Appeals for the Third Circuit August 20, 1973, 72-1672, 72-1673 (John L. LINO, Appellant in No. 72-1672, v. CITY INVESTING CO., a Corporation, Appellant in No. 72-1673)

OPINION OF THE COURT

JAMES HUNTER, III, Circuit Judge:

This case involves the interpretation of the federal securities laws to determine whether there is federal jurisdiction to hear John Lino’s complaint.

Lino purchased two “Franchise Sales Center Licensing Agreements” from Franchise International (“FI”), a wholly-owned subsidiary of City Investing.