Robertina W. Pierpoint, as Executrix of Harry G. Pierpoint, Deceased, Appellant v. James M. Hoyt, Doing…

Summary

The Court held that a wrongful taking of a stock certificate, even when the certificate is not indorsed, is a conversion of the underlying stock, permitting recovery of the stock’s full value. It reversed the Appellate Division’s decision and affirmed the trial court judgment. Justice Lehman, dissenting, argued that damages should be limited to the value of the certificate because the owner retained title to the stock.