Donnell v. Continental Sugar Co.

Citations

• 16 Ohio N.P. (n.s.) 331
• 29 Ohio Dec. 131
• 1914 Ohio Misc. LEXIS 96

Syllabus

<p>False Representations—Rot Qround. for Recovery Back by a Purchaser of Corporate Stock—Unless the Representations Are Shown Have been False and to Have Induced the Purchase.</p> <p>An action does not lie for recovery back of the amount paid for corporate stock the purchase of which is alleged to have been induced by false representations; when the evidence shows that the representations related to the future policy of the company, and the purchaser knew that a large proportion of the new issue of stock had not been taken, and there, is a failure to show by a preponder anee of the evidence that he relied on the alleged false representations or was induced by them to subscribe for the stock, but on the contrary it appears that he was a man experienced in business matters, and had made-an independent investigation of the affairs of the company issuing the stock, and that the mortgage which the company has been compelled to place on its property was made necessary by a disaster occurring subsequent to his subscription for stock.</p>