Butler v. Pettigrew

HOLDER, District Judge.

The appeal by the plaintiffs is from an adverse judgment rendered after a bench trial. Error is claimed as to the court’s finding that plaintiffs failed to prove the essential element of their reliance upon defendants’ alleged misrepresentations in the sale of corporate stock in a common law fraud and deceit action. We affirm the finding and judgment.

The one count complaint contains allegations of alleged misconduct and mismanagement of defendant, International Space Corporation, a Texas corporation, by the individual defendants as officers, directors and stockholders…