Jno. Dunlop's Sons, Inc. v. Dunlop

The complaint alleges that the defendants Dunlop, while officers and directors of the plaintiff corporation, conspired to defraud the corporation; that, pursuant to such a conspiracy, John Dunlop, in December, 1930, entered into a contract with the Irving Trust Company, as trustee in bankruptcy, to purchase for $80,000 a certain plant in Olyphant, Pa., to be used by the plaintiff corporation for processing silk. In June, 1931, the defendants, in violation of their duty of confidence and trust as officers and directors of the plaintiff corporation, sold this plant to the plaintiff corporation,…