Stroman v. Atlas Refining Corp.

The plaintiff, for himself and as trustee for 41 others *188whose respective claims had been assigned to him, brought this action to recover damages alleged to have been sustained by reason of false and fraudulent representations made to each of them to induce the purchase of shares of stock in the Atlas Refining Corporation, defendant. The other defendants were joined as directors and promoters, and as actively engaged in the conduct of the affairs of the corporation.

It is alleged that the stock was issued to each of the office-holding defendants without consideration; that each of them, in…