Maher v. Durango Metals Inc‪.‬

Plaintiff William J. Maher appeals the district courts dismissal of his federal securities claims against Defendants Colina Oro Molino, Inc. ("COM") and Gwen Fraser. Maher argues that COM and Fraser are liable as "control persons" under § 15 of the Securities Act of 1933 ("1933 Act") and § 20(a) of the Securities Exchange Act of 1934 ("1934 Act") for various violations of the securities laws allegedly committed by Defendant Durango Metals, Inc. ("Durango"), the issuer of the relevant stock. The district court dismissed Mahers claims against COM and Fraser, concluding as a matter of law that Maher failed to establish that COM and Fraser were control persons of Durango. The district court also concluded that neither COM nor Fraser could be held primarily liable for alleged violations of § 12(a)(1) of the 1933 Act. This court exercises jurisdiction under 28 U.S.C. § 1291 and affirms.