Howing Co. v. Nationwide Corp.
United States Court of Appeals for the Sixth Circuit
826 F.2d 1470 (1987)
Relevant factsFree
Nationwide Corp.'s (defendant) majority shareholders attempted to buy out remaining shareholders to take the company private, prompting objections from minority shareholder Howing Co. (plaintiff), who alleged Nationwide's vague answers to certain Rule 13e-3 disclosure items omitted required information in violation of the rule's antifraud provisions. The district court ruled for Nationwide, and Howing appealed.
IssueFree
Whether the antifraud provisions of Rule 13e-3 are applicable if an omission is not the result of an intent to deceive investors.