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Corporations Keyed to Hazen
Goodwin v. Agassiz
Citation:
186 N.E. 659 (1933)Facts
The defendants in May, 1926 purchased through brokers on the Boston stock exchange seven hundred shares of stock of the Cliff Mining Company which up to that time the plaintiff had owned. Agassiz was president and director and MacNaughton a director and general manager of the company. They had certain knowledge, material as to the value of the stock, which the plaintiff did not have. The plaintiff contends that such purchase in all the circumstances without disclosure to him of that knowledge was a wrong against him. That knowledge was that an experienced geologist had formulated in writing, a theory as to the possible existence of copper deposits under conditions prevailing in the region where the property of the company was located.
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