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Lawsuit Claims DamagesContinued From Page Oneto Miller on the principal ot the land note and paid interest only through Jan. 15, 1973.Miller alleges he believed the stock shares had a value of $700,000, but alleges in reality the shares were “fraudulently issued and duplicative of previously issued and valid shares.The suit claims the Denton defendants “prepetrated a fraud by making false representations” to Miller “for the purpose of inducing him into the contract for the sale of aforesaid land and further inducing him into aforesaid escrow agreement.”Miller claims the Denton defendants falsely represented that the stocks were valid collateral and made a “falsepromise,” knowing the loan would be made to Adams.The other defendants “benefited from the alleged fraud, the suit claims.The defendants are sued “jointly and severally” for—$555,138, the amount of the note; —$83,162, interest on the note since Jan.15, 1973;—SI,854.000, three times actual damages as provided in the statute dealing with fraud in real estate and stock transaction; —$1,236,600, two times actual damages asprovided in another section of the statue;$1,236,600. two times exemplary and punitive damages as provided by thatstatute.
Newspaper Details
Denton Record Chronicle
Denton, Texas, US
Sun, Oct 13, 1974
Page 84
Full Page
Clipped by
Denton P.
TX, USA 12 Mar 2022
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