Opinion
November 21, 1967
Order, entered August 28, 1967, unanimously modified, on the law, on the facts, and in the exercise of discretion, to the extent that the undertaking of the defendant Alfred Politz be increased in a graduated scale proportionate to the sales if any, over 5,000 shares, of the subject stock to be effected by him, and otherwise affirmed, without costs and without disbursements. The court below properly granted the preliminary mandatory injunction appealed from. In our opinion, in view of the fact appellant already holds in escrow and as security against loss from any breach of the agreement stock presently worth approximately $500,000, appellant will be amply protected unless respondent sells or transfers substantial portions of his alleged stock which is to be registered. Under the circumstances, the bond fixed by and filed pursuant to the order of Special Term should be increased if and as he sells stock in excess of 5,000 shares, with the stock in excess of said number of shares to be held in escrow pending the furnishing of additional security, further order of the court, or until determination of the action. Settle order on notice.
Concur — Botein, P.J., Eager, Tilzer, Rabin and McGivern, JJ.