O'Hara v. Derschug

Plaintiff charges that, due to the fraud and misrepresentation of the defendant, he was induced to purchase, for an investment, 3,350 shares of class “ B ” common stock of the Syracuse Washing Machine Corporation for which he paid $215,000, to his damage in the sum of $185,000.

In his complaint he alleges that defendant represented the “ true and actual value ” of the stock was in excess of the then selling price on the market. On the trial plaintiff testified that the representation was that the “ book value ” was in excess of its then selling price. To this testimony defendant objected as…