Johnson v. Mansfield Hardwood Lumber Company

BEN C. DAWKINS, Jr., Chief Judge.

We find it our hard duty here to pass judgment upon a family schism of the first magnitude, resulting from the purchase of minority stock by a corporation through alleged fraud on the part of its officers and majority stockholders.

The crux of the case is that, had it not been for this suit, the majority— six people who proceeded to sell and liquidate the corporate assets immediately after the minority stock was bought, notwithstanding promises that this would not be done — -would have reaped a profit for themselves, before taxes, of more than $3,400,000, at…