Oil Shares, Inc. v. Kahn

DICKINSON, District Judge.

The fact situation presented by this appeal is that a conspiracy was formed through a control of the affairs of Oil Shares, Incorporated, the complainant and appellant, to loot the company to the benefit of the conspirators. The first objective of the conspiracy was to put the conspirators in control of the corporation. This was effected by the simple and familiar plan of subscribing to a ^controlling interest in the stock of the company having the old board of directors resign one by one, electing a new board made up of the conspirators. Being thus in control, the…