Nagel v. Prescott & Co.

CONNELL, Chief Judge.

This action arises out of the plaintiffs’ investment in the stock of Crowell-Collier Company. Acting upon the alleged guarantee of the defendants that said stock would produce an imminent windfall, the plaintiffs invested heavily in Crowell-Collier stock. As the stock declined in value, the plaintiffs were forced to sell out at a substantial loss. The plaintiffs now complain that the guarantee which the defendants proffered was ill-founded, and they seek to repair their damage at the expense of the defendants because of some alleged misrepresentations by the defendants in…