News & Events

News & Events

5.4.2010

Partial Settlements Under Oregon Securities Law

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The civil liability provisions of the Oregon Securities Law, ORS 59.115 and ORS 59.137, provide for joint and several liability among the various potentially liable parties — sellers; control persons; persons who “participate and materially aid” in the sale; and others — coupled with a right of contribution among those parties. So, in theory, successful plaintiffs can collect their entire judgment from one of these jointly and severally liable parties — likely the one with the deepest pockets, not necessarily the primary violator — and that party can then seek contribution of some share of that judgment from the other liable parties. 

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This article first appeared in the Law 360.