Colorado Securities Commissioner Loses Important Case Interpreting Definition of ‘Security’
(Originally published December 1, 2015) by Paul Vorndran Denver District Court recently determined that oil and gas joint venture interests promoted by Colorado companies HEI Resources, Inc. and Heartland Energy Development Corporation were not securities under the Colorado Securities Act. On October 17, 2013 following an intensely contested case brought by the Colorado Securities Commissioner,… Read more »