Legal Opinion
Murphy v. Stargate Defense Systems Corp.
Court of Appeals for the Sixth Circuit
Decided August 10, 2007No. 06-3980, 06-4034PublishedCited by 2 opinions
1Opinion of the Court
OPINION
ALAN E. NORRIS, Circuit Judge.
This appeal arises out of the sale of Spectrum Infrared, Inc. (“Spectrum”), an Ohio corporation owned by plaintiffs John Murphy and James Smith. In 2005, Spectrum was sold to Stargate Defense Systems Corp. (“Stargate”), a business operated by defendants James Woodruff and Daniel Ross. The sale was structured as a stock exchange: plaintiffs traded their stock in Spectrum for stock in Stargate. It turned out, however, that the Stargate stock was worthless. Consequently, plaintiffs filed suit seeking to rescind the sale. At the same time, they sought to…
2Cases cited11 opinions
- Securities & Exchange Commission v. National Securities, Inc.Supreme Court of the United States · 1969
- William Dasho, Dasho-Rogers, Inc., an Illinois Corporation, and Maurice H. Schy v. The Susquehanna Corporation, a Delaware CorporationCourt of Appeals for the Seventh Circuit · 1967
- In Re: Koenig Sporting Goods, Inc., Debtor. Koenig Sporting Goods, Inc. v. Morse Road CompanyCourt of Appeals for the Sixth Circuit · 2000
- Jerrold S. Pressman v. Franklin National Bank and Gordon E. InmanCourt of Appeals for the Sixth Circuit · 2004
- Mader v. ArmelCourt of Appeals for the Sixth Circuit · 1968
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3Cited by2 opinions
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