CANBY, Circuit Judge: This appeal arises out of a private placement of stock in Spendthrift Farms, Inc. (“Spendthrift”) that occurred in 1983. Several investors sued the co-owners of Spendthrift, Brownell Combs II (“Combs”) and his father Leslie Combs II 1 , as well as consultants, attorneys, an investment bank, an accounting firm, and a commercial bank. In summary judgme…
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