LEWIS v. COMMONWEALTH SECURITIES

No. 308.

51 F.Supp. 33 (1943)

LEWIS v. COMMONWEALTH SECURITIES, Inc.

District Court, D. Delaware.

July 30, 1943.


Attorney(s) appearing for the Case

C. Edward Duffy (of Logan & Duffy), of Wilmington, Del., and Unger & Pollack, of New York City, for plaintiff.

Clarence A. Southerland (of Southerland, Berl & Potter), of Wilmington, Del., and Berkley W. Henderson (of Jones, Day, Cockley & Reavis), of Cleveland, Ohio, for defendant.


LEAHY, District Judge.

This is an action by a preferred shareholder of Commonwealth Securities, Incorporated, a Delaware corporation (herein referred to as "Commonwealth"). Because of circumstances which I shall detail subsequently, plaintiff seeks a receiver to wind up and liquidate Commonwealth.

Commonwealth is engaged in what is currently known as the general investment business. 67,571 shares of 6% $100 par preferred are outstanding, with an unpaid accumulated...

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