Legal Opinion
Fed. Sec. L. Rep. P 98,687 Leo P. Portnoy v. Texas International Airlines, Inc.
Court of Appeals for the Seventh Circuit
Decided May 14, 1982No. 81-1031PublishedCited by 1 opinion
1Opinion of the Court
CUMMINGS, Chief Judge.
This Portnoy’s Complaint asserts that he is a stockholder of Texas International Airlines (TIA) and that under Section 16(b) of the Securities Exchange Act of 1934, 1 TIA ought to recover short-swing profits supposedly realized by defendants National Aviation & Technology Corporation, GATX Aircraft Corporation, and MEI Corporation. Portnoy brought this suit on behalf of TIA because it purportedly refused to take action. 2
On August 24, 1972, the three defendants acquired TIA warrants as part of a reorganization necessitated by TIA’s financial difficulties. Warrants to buy…
2Cases cited6 opinions
- Mourning v. Family Publications Service, Inc.Supreme Court of the United States · 1973
- Reliance Electric Co. v. Emerson Electric Co.Supreme Court of the United States · 1972
- Foremost-McKeeson, Inc. v. Provident Securities Co.Supreme Court of the United States · 1976
- Fed. Sec. L. Rep. P 92,683 John Bershad v. Bernard P. McDonoughCourt of Appeals for the Seventh Circuit · 1970
- Rosen v. DrislerDistrict Court, S.D. New York · 1976
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Seinfeld v. Hospital Corp. of AmericaDistrict Court, N.D. Illinois · 1988