Illinois Rockford Corp. v. Kulp

This is an action for the rescission of a stock sale or, in the alternative, for damages arising out of defendant’s alleged fraudulent representations, which induced plaintiff, Illinois Rockford Corporation (Rockford), to sell to defendant, Western Picture Frame Company, its 50% share of the capital stock of Pullman Couch Company (Pullman) for an inadequate price.

The cause was referred to a master in chancery (later appointed a special commissioner) who, after extensive hearings, filed a report recommending a decree awarding damages to the plaintiff in the amount of $112,500 as against all…