Dreiling Ex Rel. Infospace, Inc. v. Kellett

ORDER ON CROSS-MOTIONS FOR SUMMARY JUDGMENT

PECHMAN, District Judge.

This matter comes before the Court on cross-motions for summary judgment. (Dkt.Nos.68, 82.) Plaintiff alleges that the Jain Defendants engaged in prohibited short-swing trades of InfoSpace stock by transferring shares from the Defendant trusts to personal and escrow accounts. Because these transfers are purchases for purposes of determining short-swing trades, Plaintiffs motion for summary-judgment is GRANTED and Defendants’ motion for summary judgment is DENIED.

BACKGROUND

This is a suit by a shareholder of InfoS-pace, Mr.…