McWhirter v. Holmes

The plaintiff purchased certain stock of a named corporation. She brought suit for return of the purchase-price thereof against the corporation, Kilgore, its president, and McWhirter, its secretary, both of whom were directors in the corporation, alleging that the sale of the stock was void, in that the stock was Class “D” securities, that the corporation had not complied with the securities law of this State by procuring a license from the Secretary of State to sell Class “D” securities, and by furnishing the Secretary of State with the statements and data required by section 13 of the law,…