Carr-Consolidated Biscuit Co. v. Moore

MURPHY, District Judge.

Plaintiff moves for summary judgment in an action under § 16(b), Securities Exchange Act of 1934, 15 U.S.C.A. § 78p(b), and see § 27, Id. § 78aa, to recover profit realized by a ¡former treasurer from the salé and purchase of its common stock on the open market within less than six months. In opposition defendant denies engaging in short swing trading for speculative purposes;1 and moves for dismissal of the action because of the statute of limitations.2

Assuming, as we must, for present purposes, defendant’s version as to the motive for the sale and purchase, Zell v.…