[DOWNLOAD] "Arber V. Essex Wire Corp." by United States Court Of Appeals For The Sixth Circuit * eBook PDF Kindle ePub Free
eBook details
- Title: Arber V. Essex Wire Corp.
- Author : United States Court Of Appeals For The Sixth Circuit
- Release Date : January 08, 1974
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 65 KB
Description
This is an appeal from a judgment for defendants in an action brought by appellants, Bertha Arber and Ann Arber Broek, her daughter, for rescission of a sale in 1961 of 525 shares of Essex Wire Corporation common stock to Essex.*fn1 The complaint, filed November 9, 1966, charged that Essex, the purchaser, and Walter F. Probst, the president of Essex at the time of sale and the principal negotiator on behalf of Essex, failed to disclose material facts relating to the stock's value in violation of state common law and of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b),*fn2 and the Securities and Exchange Commission's Rule 10b-5,*fn3 promulgated thereunder. The district court held that the evidence at trial did not establish any violation of state law or of the federal securities law and, alternatively, that appellants' claims for rescission were barred by laches. Appellants appeal from an order of July 26, 1972, denying them a trial by jury and from the findings of fact and conclusions of law filed with the district court's decision on August 23, 1972. We affirm.