Goodwin v. Agassiz

Directors Agassiz and MacNaughton (defendants) of Cliff Mining learned of an unproven geologist's theory about copper deposits on company land but did not disclose it before Goodwin (plaintiff), unaware of the theory, sold his Cliff stock anonymously through a broker on the exchange, where the defendants happened to be the ultimate buyers. Goodwin sued for the defendants' nondisclosure, though it was undisputed the nondisclosure didn't harm the corporation itself; the trial court dismissed his complaint.