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SOBEL v. WHITTIER CORP.

No. 11390.

195 F.2d 361 (1952)

SOBEL v. WHITTIER CORP. et al.

United States Court of Appeals Sixth Circuit.

April 7, 1952.

Attorney(s) appearing for the Case

Ralph L. Seltzer, Detroit, Mich., for appellant.

John A. Hamilton and John P. Laughna, Detroit, Mich., for appellees.

Before ALLEN, McALLISTER and MILLER, Circuit Judges.

McALLISTER, Circuit Judge.

On September 13, 1950, the Whittier Corporation entered into a merger agreement with the Detroit Housing Corporation of Michigan. The agreement included a proposed sale by the Whittier Corporation of 15,824.89 shares of its stock to the Detroit Housing Corporation of Michigan at $81 per share. The latter company was to finance the purchase through loans in the amount of approximately $1,300,000, to be secured by pledging the shares in question...

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