JIMI OLUKAYODE BADA, J.C.A. (Delivering the Leading Judgment): This appeal emanated from the Judgment of the Investments and Securities Tribunal, Lagos delivered on the 17th day of December, 2018 in SUIT NO: 1ST/LA/OA/02/2017 – BETWEEN: DR. VINCENT O. EBUH v. (1) KEYSTONE BANK LIMITED (2) SECURITIES AND EXCHANGE COMMISSION (3) MIDAS STOCKBROKERS LIMITED wherein Judgment was entered in favour of the Claimant now 1st Respondent against the 1st Defendant now Appellant.
By an Amended Originating Application dated 9/5/2018 the 1st Respondent commenced an action against the Appellant (who was the 1st Defendant) the 2nd and 3rd Respondents as follows:-
(1) A DECLARATION of this Honourable Tribunal that the terms of the 1st Defendants’ Initial Public Offer of November, 2007, contained in its Prospectus, pursuant to which the Claimant applied to acquire 30,000,000 (Thirty Million) shares of the 1st Defendant constitutes an agreement between the Claimant and the 1st Defendant with regard to the C…