MATTER OF AUDIOFIDELITY ENTERS., INC. v. STATE TAX COMM'N


67 A.D.2d 1016 (1979)

In the Matter of Audiofidelity Enterprises, Inc., et al., Petitioners, v. State Tax Commission, Respondent

Appellate Division of the Supreme Court of the State of New York, Third Department.

February 1, 1979


Petitioner, Herman D. Gimbell, purchased 100 shares of stock of Audiofidelity Enterprises, Inc. (then Audiofidelity Records, Inc.) in April, 1965, and on or about April 12, 1965, a stock certificate was issued in his name alone. Subsequently, on December 3, 1968, as a result of a 2,000 for 1 stock split, Herman was issued a certificate for 200,000 shares of this stock. A prospectus dated September, 1968, listed Herman Gimbel as...

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