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OIL SHARES v. KAHN

No. 5276.

94 F.2d 751 (1938)

OIL SHARES, Inc., v. KAHN et al.

Circuit Court of Appeals, Third Circuit.

February 11, 1938.

Attorney(s) appearing for the Case

Merritt Lane, of Newark, N. J. (Wm. M. Chadbourne, Clinton DeWitt Van Siclen, and John Holbrook, all of New York City, of counsel), for appellant.

J. Fisher Anderson, of Jersey City, N. J., (Thomas G. Haight, Albert C. Wall, and J. Fisher Anderson, all of Jersey City, N. J., of counsel), for appellees.

Before DAVIS and THOMPSON, Circuit Judges, and DICKINSON, District Judge.

DICKINSON, District Judge.

The fact situation presented by this appeal is that a conspiracy was formed through a control of the affairs of Oil Shares, Incorporated, the complainant and appellant, to loot the company to the benefit of the conspirators. The first objective of the conspiracy was to put the conspirators in control of the corporation. This was effected by the simple and familiar plan of subscribing to a controlling interest in the stock of the company...

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