Northrop v. DuPont

Lewis J. Northrop brought this action against Francis I. duPont & Company to recover the consideration he paid for stock of Interamerican Industries, Ltd. bought through duPont.

The purchases were initiated by Northrop, who instructed duPont to buy Interamerican stock for his account. Since duPont did not make a market for Interamerican stock, which was traded over-the-counter, it resorted to the “pink sheets” to find dealers who were offering Interamerican stock for sale. duPont executed each of Northrop’s buy orders for Interamerican stock through one of those dealers.

duPont did not solicit…