Dykema v. Muskegon Piston Ring Co.

Plaintiff sought damages, alleging that defendants falsely and negligently advised him, as a stockholder, that a merger of defendant company and Thompson Products, Inc., would be consummated upon approval of defendant company’s stockholders, and that in reliance upon said statement plaintiff purchased 1,200 shares of defendant company stock, thereby sustaining large and substantial losses. At the conclusion of plaintiff’s base the trial court directed a verdict of no cause of action, and plaintiff appeals. • ,

Plaintiff bases Ms claim on defendants’ letter of August 27,1951, which read:

“To…