THE IMPACT OF GUSTAFSON AND ITS METHODOLOGY

In the last issue of the Securities Regulation Law Journal, Professor Ted Fiflis questioned the analysis of the Supreme Court's Gustafson de cision, which held that Section 12 (2) relief is limited to buyers in public offerings. This article continues that analysis by examining se veral lower court cases decided since Gustafson. Based on these recent decisions, the author sees further turmoil in securities law and prac tice.