Rogers v. Riddle

The plaintiffs appeal from a final decree, entered by the chancellor at the conclusion of trial, denying relief upon their complaint. The suit sought to rescind, upon the ground of fraud inherent in the transactions, the sale of each plaintiff of his stock in Riddle Airlines which was purchased by John Paul Riddle. The complaint alleged that at the time of the sales, Riddle, as president, owed to the plaintiffs, as stockholders, a duty to make a full disclosure to them of all information he possessed as to the condition of the corporation. The claimed ground for rescission, in each instance,…