Haas v. Jefferson National Bank

442 F.2d 394 (5th Cir. 1971)

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Nature of the Case

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Facts

Haas (P) sued Bank (D) for a mandatory injunction to issue P 169.5 shares of common stock. P alleged an agreement with Glueck under which they had jointly purchased 250 shares of D's stock and then another 34 shares and that the certificates were issued under Glueck's name but the bank was aware of his one-half ownership. In 1969, P asked Glueck to issue his share in P's name and that Glueck went to D to do so but D refused in that Glueck was under a promissory obligation that pledged the stock. D then transferred that obligation to another bank. After a pretrial conference, the court ordered P to amend his complaint and join Glueck as a party. The complaint was then dismissed for lack of diversity as Glueck was an Ohio citizen as was P. P appealed.