Ripka v. Philco Corporation

LEIBELL, District Judge.

Plaintiff, the assignee of Benjamin A. Javits as trustee, and of Jacob K. Javits as trustee, and of Benjamin A. Javits and Jacob K. Javits, copartners, sues for a rescission of the sale to Philco Corporation of 25,000 shares of common stock of National Union Radio Corporation, made by plaintiff’s assignors on April 14, 1942, for $16,862.50, after negotiations that will be hereinafter discussed in some detail. The basis for the rescission as pleaded in the first cause of action is that plaintiff’s assignors were induced to sell the stock to the defendant, Philco…