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BRASS v. AMERICAN FILM TECHNOLOGIES, INC.

No. 37, Docket 92-7328.

987 F.2d 142 (1993)

Sanford BRASS; Joyce Mericle Brass; Gustave E. Chew; Fred Suther; John Tomaszewski; Stephen D.E. Mitchell, as Trustee for Giles David Edwin Mitchell and Neville Arthur Thomas Mitchell, Plaintiffs-Appellants, v. AMERICAN FILM TECHNOLOGIES, INCORPORATED, Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided March 8, 1993.

Attorney(s) appearing for the Case

Raymond A. Connell, New York City (Connell Losquadro & Zerbo, of counsel), for plaintiffs-appellants.

Robert Knuts, New York City (Darrell K. Fennell, Fennell & Minkoff, of counsel), for defendant-appellee.

Before: FEINBERG, NEWMAN and CARDAMONE, Circuit Judges.

CARDAMONE, Circuit Judge:

This securities law action was brought against a defendant-corporation that was selling warrants for the purchase of its common stock. Plaintiff's suit alleging conversion, breach of contract and fraud arose when he met with defendant's chief executive officer to inquire about the business and ended up purchasing 65,000 of the warrants transferable into the company's common stock. Unknown to plaintiff, and untold by defendant's CEO, was the...

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