NORDBYE, District Judge.
This action is brought to recover the value of plaintiffs' securities, consisting mainly of stocks registered in their names, on the theory that the defendants converted them to their own use because they were not good-faith purchasers for value. Defendants are a New York partnership operating as Slaughter & Russell and A. O. Slaughter & Company, and were licensed to carry on a brokerage business pursuant to the Minnesota Securities...
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