Saphier v. Devonshire Street Fund, Inc.

Two actions of contract present on almost identical facts,the issue whether in July, 1961, a Boston bank (the bank), as the custodian of the defendant (Fund), properly placed a valuation upon securities deposited by the plaintiffs in anticipation of the issue to them of shares of Fund in exchange for such securities. Recovery is sought of the amount of alleged undervaluations of the deposited securities.

The cases were heard upon statements of agreed facts constituting cases stated. The trial judge ordered judgments for Fund and the plaintiffs now present to us their exceptions to those…