WILENTZ v. FAIRLAND MANAGEMENT CORP., INC., 130 N.J. Eq. 212 (1941)

21 A.2d 733

DAVID T. WILENTZ, Attorney-General of the State of New Jersey, respondent, v. FAIRLAND MANAGEMENT CORPORATION, INC., a corporation of the State of New Jersey, et al., appellants.

Court of Chancery and Prerogative Court.Submitted May term, 1941.
Decided September 19th, 1941.

1. The proofs herein supported the granting of an injunction and the appointment of a receiver.

2. Stevens v. Associated Mortgage Co., 107 N.J. Eq. 297; 110 N.J. Eq. 70, and Stevens v. Washington Loan Co., 107 N.J. Eq. 94; 109 N.J. Eq. 128, followed.

On appeal from the Court of Chancery.

Mr. Abraham M. Herman, for the appellants.

Mr. Andrew J. Markey, for the respondent, David T. Wilentz.

The opinion of the court was delivered by BODINE, J.

The proceeding under review was instituted under the New Jersey Securities Act (N.J.S.A. 49:1-11) designed to prevent cheating in securities. An injunction was granted

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and a receiver was appointed. From our examination of the facts, it appears that the proofs supported the conclusion of the learned Vice-Chancellor. The procedure adopted merely followed that sanctioned in Stevens v. Associated Mortgage Co., 107 N.J. Eq. 297; affirmed, 110 N.J. Eq. 70, and Stevens v Washington Loan Co., 107 N.J. Eq. 94; affirmed, 109 N.J. Eq. 128.

The decree is affirmed, with costs.

For affirmance — THE CHIEF-JUSTICE, PARKER, CASE, BODINE, DONGES, HEHER, PERSKIE, PORTER, COLIE, DEAR, WELLS, HAGUE, THOMPSON, JJ. 13.

For reversal — None.