McIntyre v. Lyon

On or about May 17, 1941, plaintiff purchased from the defendant Lyon Screw Products, Inc., 1,000 shares of its capital stock for which he paid $1 per share. From time to time he* inquired of defendants concerning the value of the stock and the progress of the company. It is his claim that in response to each such inquiry he was advised that his stock was worth $1.50 per share. On or about September 30, 1943, he sold it to the company for $1,500, indorsing the certificate and acknowledging receipt of the consideration. In December, 1944, he filed suit in equity alleging that defendants had…