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MYER v. E.M. ADAMS & CO.

511 P.2d 841 (1973)

Robert J. MYER and Maribel Myer, Respondents and Cross-Appellants, v. E.M. ADAMS & CO., an Oregon Corporation, and Donald Bruce, Appellants and Cross-Respondents, Albert L. Hawn and Richard Langton, Defendants and Cross-Respondents.

Supreme Court of Oregon, In Banc.

Decided June 28, 1973.

Attorney(s) appearing for the Case

R. Alan Wight, Portland, argued the cause for appellants and cross-respondents. On the briefs were Norman J. Wiener, J. David Petersen, and Miller, Anderson, Nash, Yerke & Wiener, Portland.

Marvin S. Nepom, Portland, argued the cause for respondents and cross-appellants. With him on the brief was Leo Levenson, Portland.

Before O'CONNELL, C.J., and McALLISTER, DENECKE, HOLMAN, TONGUE, HOWELL and BRYSON, JJ.

BRYSON, Justice.

Plaintiffs purchased shares of stock in TiLINE, Inc., from defendant E.M. Adams & Co., an Oregon brokerage house, through defendant Donald Bruce, its sales representative, as follows:

  12/20/67      3,500 shares @ $ 2.50 per share
  5/3/68        1,000 shares @   4.125 per share
  1/6/69        2,000 shares @   8.625 per share

Plaintiffs brought this suit to rescind the above purchases and allege they were induced

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