Jackson Tool & Die, Inc. v. John Curtis Smith
Court of Appeals for the Fifth Circuit
1Opinion of the Court
HUNTER, District Judge.
The “principal appellees,” John Smith and Rowena Smith, paid $7,500 for 3,000 shares of stock of Jackson Tool & Die, Inc. Subsequently, they sold the same 3,000 shares for $3,000. They instituted .suit in the district court, under the Civil Liabilities provisions of the Securities Act of 1933, for the $4,500 difference, interest and attorney’s fees. Joined as •defendants were Jackson Tool, its officers, and numerous members of its Board of Directors, including all appellants. Defendants, appellants here,, filed third party complaints against the remaining directors and…
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