Minnesota Statutes

Minn. Stat. § 80A.01 (2026)

[Repealed]

✓ current as of May 2026
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[Repealed, 2006 c 196 art 1 s 51,52]

Notes of Decisions
Cited in 71 cases, 1975–2016 · leading case: Specialized Tours, Inc. v. Hagen, 392 N.W.2d 520 (Minn. 1986).
Specialized Tours, Inc. v. Hagen, 392 N.W.2d 520 (Minn. 1986). · cites it 23× “13 In line with the analysis of the majority in Landreth and Gould , the Dittmann stock which was transferred to Specialized Tours possessed all of the characteristics associated with stock, and, thus, the sale of Dittmann was a securities transaction subject to the anti-fraud…”
Stephenson v. Deutsche Bank AG, 282 F. Supp. 2d 1032 (D. Minnesota 2003). · cites it 10× “Plaintiffs also allege that Defendants violated Minn.Stat. § 80A.01, the state counterpart to Section 10(b) and Rule 10b-5.”
TROOIEN v. Mansour, 608 F.3d 1020 (8th Cir. 2010). · cites it 7× “Minn.Stat. § 80A.01 makes it "unlawful for any person, in connection with the offer, sale or purchase of any security, directly or indirectly:" (a) to employ any device, scheme, or artifice to defraud; (b) to make any untrue statement of a material fact or to omit to state…”
TCF Banking & Sav., F.A. v. Arthur Young & Co., 706 F. Supp. 1408 (D. Minnesota 1988). · cites it 23× “Count II alleges a violation of the Minnesota Uniform Securities Act, Minn.Stat. § 80A.01 et seq. Count III alleges a claim of common law negligence.”
Minneapolis Employees Ret. Fund v. Allison-Williams Co., 519 N.W.2d 176 (Minn. 1994). · cites it 19× “We consider first whether the district court properly granted summary judgment for Allison-Williams with respect to MERF’s claim that Allison-Williams violated the Minnesota Securities Act, Minn.Stat. §§ 80A.01 to 80A.31 (1990), by recommending the sale of unsuitable securities.”
Bond v. Charlson, 374 N.W.2d 423 (Minn. 1985). · cites it 13× “In the first place a violation of the anti-fraud provisions of the securities act does not prevent the formation of a contract. The statute recognizes the existence of a contract; but while preserving any rights traditionally available to the victim of fraud, such as restitution…”
Burns v. Ersek, 591 F. Supp. 837 (D. Minnesota 1984). · cites it 12× “Count III alleges violations of the Minnesota Securities Act, Minn.Stat. §§ 80A.01 and 80A.03. Specifically, plaintiff claims Lurie Eiger knowingly misstated or omitted material facts in its opinions during the period and knowingly, recklessly, negligently or unreasonably failed…”
Merry v. Prestige Capital Markets, Ltd., 944 F. Supp. 2d 702 (D. Minnesota 2013). · cites it 18× “The current MSA became effective August 1, 2007, but before 2007, a substantially similar action could be brought under Minn.Stat. § 80A.01. See Brent A. Olson, Introduction — Uniform Securities Act of 2002, 20A2 Minn.”
State v. Stith, 292 N.W.2d 269 (Minn. 1980). · cites it 18× “05 (1978), and seven counts of securities fraud, Minn.Stat. §§ 80A.01, 80A.22, 609.05 (1978).”
Hagert v. Glickman, Lurie, Eiger & Co., 520 F. Supp. 1028 (D. Minnesota 1981). · cites it 8× “§§ 80A.01, 80A.03, and 80A.17; that all defendants were negligent and acted with willful indifference to plaintiffs’ rights; that all defendants, either as principals, aiders and abettors or control persons, violated Section 10(b) of the Securities Exchange Act of 1934, 15 U.”
In Re Flight Transp. Corp. SEC. Litig., 593 F. Supp. 612 (D. Minnesota 1984). · cites it 9× “01 provides: It is unlawful for any persons, in connection with the offer, sale or purchase of any security, directly or indirectly: (a) to employ any device, scheme, or artifice to defraud; (b) to make any untrue statement of a material fact or to omit to state material facts…”
Foley v. Allard, 427 N.W.2d 647 (Minn. 1988). · cites it 10× “Foley argues first that the court of appeals has determined that Minn.Stat. § 80A.01 (1986), which establishes a pri *650 mary violation, is a derivative of § 17(a) of the Securities Act of 1933, 15 U.”
— Minn. Stat. § 80A.01(a) — 4 cases
Specialized Tours, Inc. v. Hagen, 392 N.W.2d 520 (Minn. 1986). “13 In line with the analysis of the majority in Landreth and Gould , the Dittmann stock which was transferred to Specialized Tours possessed all of the characteristics associated with stock, and, thus, the sale of Dittmann was a securities transaction subject to the anti-fraud…”
State v. Stith, 292 N.W.2d 269 (Minn. 1980). “05 (1978), and seven counts of securities fraud, Minn.Stat. §§ 80A.01, 80A.22, 609.05 (1978).”
Foley v. Allard, 427 N.W.2d 647 (Minn. 1988). “Foley argues first that the court of appeals has determined that Minn.Stat. § 80A.01 (1986), which establishes a pri *650 mary violation, is a derivative of § 17(a) of the Securities Act of 1933, 15 U.”
First State Bank of Floodwood v. Jubie, 847 F. Supp. 695 (D. Minnesota 1993).
— Minn. Stat. § 80A.01(b) — 10 cases
Specialized Tours, Inc. v. Hagen, 392 N.W.2d 520 (Minn. 1986). “13 In line with the analysis of the majority in Landreth and Gould , the Dittmann stock which was transferred to Specialized Tours possessed all of the characteristics associated with stock, and, thus, the sale of Dittmann was a securities transaction subject to the anti-fraud…”
State v. Stith, 292 N.W.2d 269 (Minn. 1980). “05 (1978), and seven counts of securities fraud, Minn.Stat. §§ 80A.01, 80A.22, 609.05 (1978).”
TROOIEN v. Mansour, 608 F.3d 1020 (8th Cir. 2010). “Minn.Stat. § 80A.01 makes it "unlawful for any person, in connection with the offer, sale or purchase of any security, directly or indirectly:" (a) to employ any device, scheme, or artifice to defraud; (b) to make any untrue statement of a material fact or to omit to state…”
Sprangers v. Interactive Tech., Inc., 394 N.W.2d 498 (Minn. Ct. App. 1986).
Noble v. C.E.D.O., Inc., 374 N.W.2d 734 (Minn. Ct. App. 1985).
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