Burningham v. Burke

This is an action in equity, brought by the plaintiff, the appellant, to rescind a subscription or purchase of capital stock and to recover back moneys paid by him thereon. It is in substance alleged in the complaint that the defendant Utah Steel Corporation was a domestic corporation organized in July, 1919, and that the defendant Burke was appointed its receiver in July, 1922; that in the latter part of 1921 and in January, 1922, the corporation entered upon a campaign of selling its capital stock to the plaintiff and to the public generally and in such connection published and circulated…