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Interport Resources Corporation vs. Securities Specialist, Inc.

INTERPORT RESOURCES CORPORATION, Petitioner, versus SECURITIES SPECIALIST, INC., and R.C. LEE SECURITIES INC., Respondents.

G.R. No. 154069 | 2016-06-06

 
DECISION

BERSAMIN, J.:

This appeal assails the decision promulgated on February 11, 2002, 1 whereby the Court of Appeals (CA), in C.A.-G.R. SP No. 66600, affirmed he decision the Securities and Exchange Commission (SEC) rendered in SEC AC No. 501-5022 ordering Interport Resources Corporation (Interport) to deliver 25% of the shares of stocks under Subscription Agreements Nos. 1805 and 1808-1811, or the value thereof, and to pay to respondent Securities Specialist, Inc. (SSI), jointly and severally with R.C. Lee Securities, Inc. (R.C. Lee), exemplary damages and litigation expenses. 
 
Antecedents

In January 1977, Oceanic Oil...