Thompson v. American Power & Light Co. American Power & Light Co. v. Thompson

HUTCHESON, Chief Judge.

Brought under Article 4004 of the Civil Statutes of Texas, upon allegations of “actionable fraud” 1 in connection with plaintiffs’ purchase of the corporate stock and an income note of Texas Public Utilities Company for the principal sum of $2,200,-000, bearing interest at 7 percent, with $600,000 accrued interest, the suit was for $350,000 “actual damages suffered”, as measured by the statutory rule. 2

As plaintiffs state them in their brief, the false representations of past or existing material facts, which induced plaintiffs to make the purchase, consisted: (1) in…