O'Herron v. Southern Tier Stores, Inc.

-Appeal from a judgment of the Supreme Court, Chemung County which dismissed the complaint after a trial by the court without a jury. The action is for rescission and to recover moneys paid under a contract whereby plaintiff and others supplied funds for the incorporation and capitalization of defendant corporation, formed to purchase and hold the stock of an existing corporation engaged in the department store business. The shares of the defendant corporation to which plaintiff subscribed were delivered to him in due course but debentures to which he also subscribed and for which he paid…