Fleetwood Corp. v. Mirich

HOFFMAN, Judge.

This is an appeal from an action by plaintiffs-appellees Ernest Mirich, Pasquale Am-ico, John Kolettis, Charles Yast and Eugene Leman against defendants-appellants Reginald Brown and Fleetwood Corporation (Fleetwood) to recover damages for fraud. Plaintiffs charged that Brown falsely represented that all shareholders were required to sell their stock at $500 per share and further misled them as to the source of the funds used to purchase the shares. Plaintiffs also complained of Brown’s failure to disclose an appraisal of the corporation’s assets which would have reflected a…