Missouri Court of Appeals, Western District / Jul 31, 2018
State of Missouri, ex tel. Lavender Farms, LLC and Paul Benton Weeks III vs. John J. Ashcroft, Missouri Secretary of State, and David M. Minnick, Missouri Commissioner of Securities
Lavender Farms, LLC and Paul Benton Weeks III appealed the circuit court's judgment quashing a preliminary writ that had stayed an administrative enforcement action by the Missouri Secretary of State, Securities Division. Lavender Farms argued that the administrative action was barred by a statute of repose in the Missouri Securities Act. The appellate court affirmed, holding that the statute of repose in question applies only to civil actions brought by purchasers of securities, not to administrative enforcement actions by the Securities Division.