Legal Opinion
Fed. Sec. L. Rep. P 93,528 Keller Industries, Inc. v. Donald W. Walden
Court of Appeals for the Fifth Circuit
Decided August 23, 1972No. 71-1364PublishedCited by 6 opinions
1Opinion of the Court
JOHN R. BROWN, Chief Judge:
In February 1969, Appellant, Donald Walden, an officer-director of Keller Industries, Inc., sold at considerable profit some 650 shares of Keller stock which he had acquired less than 6 months before pursuant to the exercise of certain qualified and restricted stock options. Keller, undoubtedly sensitive to the pressure from the Securities and Exchange Commission, instituted this action under Section 16(b) of the Securities Exchange Act 1 to recover for the corporation the profits received by virtue of this transaction. 2
The Trial Court, determining that there were…
2Cases cited4 opinions
- Fed. Sec. L. Rep. P 92,683 John Bershad v. Bernard P. McDonoughCourt of Appeals for the Seventh Circuit · 1970
- Greene v. DietzCourt of Appeals for the Second Circuit · 1957
- Perlman v. TimberlakeDistrict Court, S.D. New York · 1959
- Continental Oil Company v. PerlitzDistrict Court, S.D. Texas · 1959
3Cited by6 opinions
- Freedman v. BarrowDistrict Court, S.D. New York · 1976
- Tanner v. Comm'rUnited States Tax Court · 2001
- Rosen v. DrislerDistrict Court, S.D. New York · 1976
- Seinfeld v. Hospital Corp. of AmericaDistrict Court, N.D. Illinois · 1988
- Paul A. Tanner, Sr. and Beverly N. Tanner v. CommissionerUnited States Tax Court · 2001
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