In the days when electronics stocks were glamorous, few were more so than Transitron Electronic Corp. of Wakefield, Mass. Its stock went from 36 to 60 in six months, and its sales from $7.4 million to $47 million between 1956 and 1960. But when electronics dipped in mid-1961, partly because of fast-rising imports, none felt the shake-out so sharply as Transitron (which closed last week at 7⅜). And nobody had more trouble than its enterprising brother-founders, David and Leo Bakalar.
Transitron stockholders, including five mutual funds, filed federal suits against the Bakalars. who made a personal profit of $56...
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