Gridley v. Sayre & Fisher Co.

MEMORANDUM DECISION

NICHOL, Chief Judge.

The above entitled cases were consolidated for trial. The plaintiffs (hereinafter “the Gridleys”, John, Jr., and John, III) are father and son. In April of 1972, the Gridley’s purchased securities from the defendant Sayre & Fisher Company (hereinafter Sayre & Fisher). One provision in the purchase agreement was that John, Jr.’s stock would be registered with the Securities and Exchange Commission within five days of purchase. When this did not take place, John, Jr. commenced an action on November 8, 1972, for breach of contract. The complaint was later…