Farmer v. Standeven

PHILLIPS, Circuit Judge.

H. L. Standeven, from November 18, 1930, to December 31, 1931, was president of the Exchange National Company and a member of its board of directors.

In November and December, 1930, the books of the -company reflected certain stock transactions between the company and Standeven as set out in subjoined note.1

it will be observed that on December 31, 1930, Standeven resold to the company the stocks he had purchased from it between *961November 18, 1930, and November 21, 1930, at the same prices he had paid for them, and on December 31, 1930, he repurchased from the company the…