Boswell v. Brinckmann

MAUS, Judge.

This action was brought by the plaintiff to “undo” his purchase of 70 shares in Don’s Boat and Motor Company (Don’s) for $7000. Don’s was a closely held corporation with the defendant holding substantially all of the shares. It engaged in the marina business and plaintiff was a long time customer. He was on a friendly basis with defendant who actively ran the business. The petition is in two counts. In Count I the plaintiff alleged misrepresentation of the financial condition of Don’s and prayed for rescission, the return of the purchase price, interest from the date of the…