Text of section effective on January 01, 2022
Sec. 4008.057. DAMAGES. (a) In damages under this subchapter, a buyer of a security shall recover the consideration the buyer paid for the security plus interest on the consideration at the legal rate from the date the buyer made the payment, less the greater of:
(1) the value of the security at the time the buyer disposed of the security plus the amount of any income the buyer received on the security; or
(2) the actual consideration received for the security at the time the buyer disposed of the security plus the amount of any income the buyer received on the security.
(b) In damages under this subchapter, a seller of a security shall recover the value of the security at the time of sale plus the amount of any income the buyer received on the security, less the consideration paid to the seller for the security plus interest on the consideration at the legal rate from the date of payment to the seller.
(c) For a buyer suing under Section 4008.054, the consideration the buyer paid for the security is deemed to be the lesser of:
(1) the price the buyer paid; or
(2) the price at which the security was offered to the public.
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.
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