Florida Statutes

Fla. Stat. § 517.211 (2025)

Private remedies available in cases of unlawful sale.

✓ 2025 Florida Statutes — current through the 2025 Regular Session

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517.211 Private remedies available in cases of unlawful sale.—

(1) Every sale made in violation of either s. 517.07 or s. 517.12(1), (3), (4), (9), (11), (13), (16), or (18) may be rescinded at the election of the purchaser; however, a sale made in violation of the provisions of s. 517.1202(3) relating to a renewal of a branch office notification or in violation of the provisions of s. 517.12(13) relating to filing a change of address amendment is not subject to this section. Each person making the sale and every director, officer, partner, or agent of or for the seller, if the director, officer, partner, or agent has personally participated or aided in making the sale, is jointly and severally liable to the purchaser in an action for rescission, if the purchaser still owns the security, or for damages, if the purchaser has sold the security. No purchaser otherwise entitled will have the benefit of this subsection who has refused or failed, within 30 days after receipt, to accept an offer made in writing by the seller, if the purchaser has not sold the security, to take back the security in question and to refund the full amount paid by the purchaser or, if the purchaser has sold the security, to pay the purchaser an amount equal to the difference between the amount paid for the security and the amount received by the purchaser on the sale of the security, together, in either case, with interest on the full amount paid for the security by the purchaser at the legal rate, pursuant to s. 55.03, for the period from the date of payment by the purchaser to the date of repayment, less the amount of any income received by the purchaser on the security.

(2) Any person purchasing or selling a security in violation of s. 517.301, and every director, officer, partner, or agent of or for the purchaser or seller, if the director, officer, partner, or agent has personally participated or aided in making the sale or purchase, is jointly and severally liable to the person selling the security to or purchasing the security from such person in an action for rescission, if the plaintiff still owns the security, or for damages, if the plaintiff has sold the security.

(3) For purposes of any action brought under this section, a control person who controls any person found to have violated any provision specified in subsection (1) is jointly and severally liable with, and to the same extent as, such controlled person in any action brought under this section unless the control person can establish by a preponderance of the evidence that he or she acted in good faith and did not directly or indirectly induce the act that constitutes the violation or cause of action.

(4) In an action for rescission:

(a) A purchaser may recover the consideration paid for the security or investment, plus interest thereon at the legal rate from the date of purchase, less the amount of any income received by the purchaser on the security or investment upon tender of the security or investment.

(b) A seller may recover the security upon tender of the consideration paid for the security, plus interest at the legal rate from the date of purchase, less the amount of any income received by the defendant on the security.

(5) In an action for damages brought by a purchaser of a security or investment, the plaintiff must recover an amount equal to the difference between:

(a) The consideration paid for the security or investment, plus interest thereon at the legal rate from the date of purchase; and

(b) The value of the security or investment at the time it was disposed of by the plaintiff, plus the amount of any income received on the security or investment by the plaintiff.

(6) In an action for damages brought by a seller of a security, the plaintiff shall recover an amount equal to the difference between:

(a) The value of the security at the time of the complaint, plus the amount of any income received by the defendant on the security; and

(b) The consideration received for the security, plus interest at the legal rate from the date of sale.

(7) In any action brought under this section, including an appeal, the court shall award reasonable attorney fees to the prevailing party unless the court finds that the award of such fees would be unjust.

(8) This chapter does not limit any statutory or common-law right of a person to bring an action in a court for an act involved in the sale of securities or investments.

(9) The same civil remedies provided by the laws of the United States for the purchasers or sellers of securities in interstate commerce also extend to purchasers or sellers of securities under this chapter.

History.—s. 5, ch. 78-435; ss. 9, 15, ch. 79-381; s. 5, ch. 80-254; ss. 5, 6, ch. 81-115; ss. 2, 3, ch. 81-318; s. 3, ch. 83-265; s. 9, ch. 84-159; ss. 11, 14, 15, ch. 90-362; s. 4, ch. 91-429; s. 1, ch. 2000-123; s. 7, ch. 2013-202; s. 18, ch. 2023-205; s. 15, ch. 2024-168; s. 12, ch. 2025-28.

Notes of Decisions

Cited in 128 cases (11 in the last 5 years), 1981–2026 · leading case: Honig v. Kornfeld, 339 F. Supp. 3d 1323 (S.D. Fla. 2018).

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Honig v. Kornfeld, 339 F. Supp. 3d 1323 (S.D. Fla. 2018). · cites it 11× “Sale of Unregistered Securities (Counts XI and XII) Plaintiffs allege claims against the Kornfeld and Klager Defendants under the Florida Securities and Investor Protection Act ("FSIPA"), Fla. Stat. § 517.211 for the sale of unregistered securities, the FPCMs and Fund Offerings.”

Barnebey v. E.F. Hutton & Co., 715 F. Supp. 1512 (M.D. Fla. 1989). · cites it 20× “F.S.A. § 517.211 provides a civil remedy where securities are offered or sold in violation of F.”

In Re Sahlen & Assocs., Inc. Sec. Litig., 773 F. Supp. 342 (S.D. Fla. 1991). · cites it 13× “301 of the Florida Securities and Investor Protection Act (“FSIPA”), Fla.Stat. §§ 517.211 and 517.301, and (9) common law conspiracy.”

Compania De Elaborados De Café v. Cardinal Capital Mgmt., Inc., 401 F. Supp. 2d 1270 (S.D. Fla. 2004). · cites it 9× “Fla. Stat. § 517.211 (2); Marcus v. Shapiro, Abramson & Schwimmer, P.”

Waters v. Int'l Precious Metals Corp., 172 F.R.D. 479 (S.D. Fla. 1996). · cites it 15× “301 is expressly provided for in section 517.211. Section 517.211 provides, in pertinent part: (2) Any person purchasing or selling a security in violation of s.”

Moser v. Barron Chase Sec., Inc., 783 So. 2d 231 (Fla. 2001). · cites it 7× “2d DCA 1991), however, the court approved an award of fees where arbitration claims were filed under both the common law and under section 517.211. In making an award for the Wienekes, the arbitrators did not specify the basis of the award, but stated "that they `determined to…”

J.P. Morgan Sec., LLC v. Geveran Investments Ltd., 224 So. 3d 316 (Fla. 5th DCA 2017). · cites it 23× “§ 517.211. Joint and several liability under section 517.”

Rushing v. Wells Fargo Bank, N.A., 752 F. Supp. 2d 1254 (M.D. Fla. 2010). · cites it 11× “-, see Fla. Stat. § 517.211 (2) (referring only to a person “purchasing or selling a security in violation of s.”

Arthur Young & Co. v. Mariner Corp., 630 So. 2d 1199 (Fla. Dist. Ct. App. 1994). · cites it 13× “We look first to the internal context of the word both within section 517.211 and in harmony with the interlocking statutes.”

EF Hutton & Co., Inc. v. Rousseff, 537 So. 2d 978 (Fla. 1989). · cites it 6× “Section 517.211, which operates upon section 517.”

Durden v. Citicorp Trust Bank, FSB, 763 F. Supp. 2d 1299 (M.D. Fla. 2011). · cites it 13× “See Fla. Stat. § 517.211 (6); Ivans v. McKid Ltd.”

Rubin v. Gabay, 979 So. 2d 988 (Fla. 4th DCA 2008). · cites it 6× “Brian Rubin appeals a final judgment finding him liable for securities fraud as an agent under section 517.211, Florida Statutes, and awarding both compensatory and treble damages.”

Show all 128 citing cases →

— 517.211(1) — 13 cases

Barnebey v. E.F. Hutton & Co., 715 F. Supp. 1512 (M.D. Fla. 1989). “F.S.A. § 517.211 provides a civil remedy where securities are offered or sold in violation of F.”

Wiley v. Hughes Capital Corp., 746 F. Supp. 1264 (D.N.J. 1990).

Honig v. Kornfeld, 339 F. Supp. 3d 1323 (S.D. Fla. 2018). “Sale of Unregistered Securities (Counts XI and XII) Plaintiffs allege claims against the Kornfeld and Klager Defendants under the Florida Securities and Investor Protection Act ("FSIPA"), Fla. Stat. § 517.211 for the sale of unregistered securities, the FPCMs and Fund Offerings.”

Bailey v. Trenam Simmons, Kemker, Scharf, Barkin, 938 F. Supp. 825 (S.D. Fla. 1996).

Skurnick v. Ainsworth, 591 So. 2d 904 (Fla. 1991).

— 517.211(2) — 23 cases

Rushing v. Wells Fargo Bank, N.A., 752 F. Supp. 2d 1254 (M.D. Fla. 2010). “-, see Fla. Stat. § 517.211 (2) (referring only to a person “purchasing or selling a security in violation of s.”

J.P. Morgan Sec., LLC v. Geveran Investments Ltd., 224 So. 3d 316 (Fla. 5th DCA 2017). “§ 517.211. Joint and several liability under section 517.”

Dillon v. AXXSYS Int'l, Inc., 385 F. Supp. 2d 1307 (M.D. Fla. 2005).

In Re Sahlen & Assocs., Inc. Sec. Litig., 773 F. Supp. 342 (S.D. Fla. 1991). “301 of the Florida Securities and Investor Protection Act (“FSIPA”), Fla.Stat. §§ 517.211 and 517.301, and (9) common law conspiracy.”

Rubin v. Gabay, 979 So. 2d 988 (Fla. 4th DCA 2008). “Brian Rubin appeals a final judgment finding him liable for securities fraud as an agent under section 517.211, Florida Statutes, and awarding both compensatory and treble damages.”

— 517.211(3) — 5 cases

Barnebey v. E.F. Hutton & Co., 715 F. Supp. 1512 (M.D. Fla. 1989). “F.S.A. § 517.211 provides a civil remedy where securities are offered or sold in violation of F.”

J.P. Morgan Sec., LLC v. Geveran Investments Ltd., 224 So. 3d 316 (Fla. 5th DCA 2017). “§ 517.211. Joint and several liability under section 517.”

Lighting Sci. v. Geveran Investments (Fla. 5th DCA 2017).

JP Morgan Sec. v. Geveran Investments (Fla. 5th DCA 2017).

J.P. Morgan Sec. v. Geveran Investments (Fla. 5th DCA 2017).

— 517.211(3)(a) — 2 cases

Waters v. Int'l Precious Metals Corp., 172 F.R.D. 479 (S.D. Fla. 1996). “301 is expressly provided for in section 517.211. Section 517.211 provides, in pertinent part: (2) Any person purchasing or selling a security in violation of s.”

McCutcheon v. Kidder, Peabody & Co., Inc., 938 F. Supp. 820 (S.D. Fla. 1996).

— 517.211(3)(b) — 1 case

Rosati v. Bekhor, 167 F. Supp. 2d 1340 (M.D. Fla. 2001).

— 517.211(4) — 1 case

Scheurenbrand v. Wood Gundy Corp., 8 F.3d 1547 (11th Cir. 1993).

— 517.211(6) — 37 cases

Moser v. Barron Chase Sec., Inc., 783 So. 2d 231 (Fla. 2001). “2d DCA 1991), however, the court approved an award of fees where arbitration claims were filed under both the common law and under section 517.211. In making an award for the Wienekes, the arbitrators did not specify the basis of the award, but stated "that they `determined to…”

Durden v. Citicorp Trust Bank, FSB, 763 F. Supp. 2d 1299 (M.D. Fla. 2011). “See Fla. Stat. § 517.211 (6); Ivans v. McKid Ltd.”

Arceneaux v. Merrill Lynch, Pierce, Fenner & Smith, 595 F. Supp. 171 (M.D. Fla. 1984).

Prudential Sec. Inc. v. Ruskin, 707 So. 2d 782 (Fla. Dist. Ct. App. 1998).

Knight v. EF Hutton & Co., Inc., 750 F. Supp. 1109 (M.D. Fla. 1990).

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.