Bailey v. Union National Bank of Knoxville

On March 21, 1928, the complainant purchased one hundred shares of the capital stock of the defendant bank from John M. Ross, paying- him therefor the sum of $10,-000 in cash.

The bill alleges the value of the stock to be twenty to thirty per cent of the sum paid, and seeks a decree against the bank for the difference, upon the ground that complainant was induced to purchase the stock by virtue of false representations made to him by certain officers of the bank as to its value.

To state the matter more specifically the complainant contends: (a) that on February 28, 1928, the directors and…