JUDSON v. PEOPLES BANK & TRUST CO. OF WESTFIELD


17 N.J. 67 (1954)

110 A.2d 24

THOMAS H. JUDSON, JR., AND WILLIAM RUSSELL JUDSON, TRUSTEES, ETC., ET AL., PLAINTIFFS-APPELLANTS, v. PEOPLES BANK AND TRUST COMPANY OF WESTFIELD, ET AL., DEFENDANTS-RESPONDENTS.

The Supreme Court of New Jersey.

Reargued November 15, 1954.

Decided December 13, 1954.


Attorney(s) appearing for the Case

Mr. Joseph A. Weisman argued the cause for appellants (Messrs. Weisman & Freedman, attorneys).

Mr. Walter J. Bilder argued the cause for respondent Bankers Commercial Corporation (Messrs. Bilder, Bilder & Kaufman, attorneys; Mr. Walter J. Bilder on the brief).


The opinion of the court was delivered by WILLIAM J. BRENNAN, JR., J.

Plaintiffs' complaint alleges that the five defendants fraudulently conspired to oust them from control of Tuttle Brothers, Inc., a New Jersey corporation doing business in Westfield, by inducing them to part with their common voting stock, over 90% of the outstanding shares, at an unconscionable price less than a tenth of its value.

Plaintiffs accepted $2,500 from two of the defendants...

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