McDevitt v. Butte City Ranch

TUTTLE, J., pro tem.

Plaintiffs seek by this action to rescind a contract whereby they were induced, through fraud, to exchange their own securities for trust certificates offered by two of the defendants, who were brokers and gave bonds in defendant surety companies under the Corporate Securities Act. Rescission was adjudged and, upon failure of defendants to return plaintiffs’ securities, judgment was rendered against the surety companies in the sum of $4,000, their value, with interest amounting to $1,953.80. The sole appellant is defendant Aetna Casualty and Surety Company, and the appeal…