Otis & Co. v. Grimes

Ben Grimes sued Otis and Company, stock and bond brokers, for damages, alleging that in December, 1927, the defendant induced the plaintiff to purchase, for $15,400, one thousand shares of Class B stock in the Allison Drug Stores Corporation by falsely representing that the corporation then was earning $2 per share on that stock. The jury found for the plaintiff, a motion for a new trial was denied, and judgment for $21,560, which included interest, was entered against the defendant, who seeks a reversal of the judgment.

The findings of the jury, based upon conflicting evidence, established…