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ARNOLD v. DIRRIM

No. 3-677A142.

398 N.E.2d 426 (1979)

Esta George ARNOLD and Gale Reiling Harris, Defendants-Appellants, National Guaranty Corp., Kenneth L. Jackson, Bill C. Smith, Edward George Weiss, Martin Stewart Schlissberg, Chris Stauffer, Harry W. Creely, Arthur D. Story, Richard D. Keating, Steven Bruce Sias, Non-Appealing Defendants, v. Kenneth DIRRIM and Wynell Dirrim, Individually and As Representatives of a Class, Plaintiffs-Appellees.

Court of Appeals of Indiana, Third District.

December 19, 1979.

Attorney(s) appearing for the Case

Vincent J. Heiny and Sherrill W. Colvin, Snouffer, Haller & Colvin, Fort Wayne, for defendants-appellants.

Martin T. Fletcher, Rothberg, Gallmeyer, Fruechtenicht & Logan, Fort Wayne, for plaintiffs-appellees.

HOFFMAN, Judge.

On July 21, 1972 plaintiffs-appellees Kenneth and Wynell Dirrim initiated an action against National Guaranty Corporation (NGC) and Kenneth Jackson, its president, to recover their investment in NGC. Dirrims alleged that they purchased 1,000 shares of NGC stock in July 1970 for $10,000 and another 500 shares in April 1971 for $5,000 pursuant to a false and misleading prospectus. On April 13, 1973 Dirrims filed an amended complaint adding as defendants...

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