where defendant sold control stock to a third party, allegedly defrauding minority stockholders
How later courts described this case
- where defendant sold control stock to a third party, allegedly defrauding minority stockholders
- corporate note used to satisfy one insider’s personal obligations to others
- note issued to bank in exchange for a loan, the proceeds of which were subsequently used to purchase stock of a corporation, treated as not within the Acts
- notes given by corporate organizers for bank loans to purchase corporation’s capital stock held not to be securities
Written by the judges who cited it.
The opinion
This record has no opinion text. It is a disposition such as a denial of certiorari, kept so the case can be found by name and citation.