Author: Rock Fusco Connelly LLC
Jed Capital and the Expanding Investment Contract
In Shirley v. Jed Capital, LLC[1], the district court decided that an ownership interest in an LLC can qualify as an investment contract. This decision may signify that an increasing number of transactions will become reviewable under the Securities and Exchange Act of 1933. In Jed Capital, Christopher Shirley filed a suit against Jed Capital,