Ward v. Flex-O-Tube Co.

LEDERLE, Chief Judge.

Findings of Fact

1. This action was instituted on February 6, 1947, seeking a declaration that three preliminary reports of examination on and prior to October 21, 1946 constituted final audits determining net worth of a manufacturing business sold by plaintiffs to defendant, at a price subject to adjustment upon ascertainment, by audit, of the true net worth of the business. Based upon these preliminary reports, plaintiffs claimed the true net worth was as they had guaranteed and that they were therefore entitled to return of some $80,000.00 in securities deposited with…