Legal Opinion
Bertha Silverman v. Alfons Landa, and Fruehauf Trailer Company
Court of Appeals for the Second Circuit
Decided August 17, 1962No. 27353_1PublishedCited by 21 opinions
1Opinion of the Court
HINCKS, Circuit Judge.
Silverman, a stockholder of Fruehauf Trailer Company, sued Landa, a director of the corporation, for profits realized from his simultaneous writing of puts and calls on Fruehauf stock. Landa, the beneficial owner of 2,000 Fruehauf shares, issued the following options.
1. “Calls” on 1,000 shares at 24% per share (the then market price), for which he received a premium of $4,000.
2. “Puts” on 500 shares, also at 24%, for which the premium he received was $1,000.
The calls were irrevocable options to buy, under which the optionee could call on Landa to assign 1,000 shares upon…
2Cases cited4 opinions
- Smolowe v. Delendo CorporationCourt of Appeals for the Second Circuit · 1943
- Blau v. OgsburyCourt of Appeals for the Second Circuit · 1954
- Falco v. Donner Foundation, Inc.Court of Appeals for the Second Circuit · 1953
- Silverman v. LandaDistrict Court, S.D. New York · 1961
3Cited by21 opinions
- Kern County Land Co. v. Occidental Petroleum Corp.Supreme Court of the United States · 1973
- Marcia Freeman v. Arthur J. Decio v. Dale Swikert, Samuel P. Mandell, Ira J. Kaufman, and Skyline CorporationCourt of Appeals for the Seventh Circuit · 1978
- Abrams v. Occidental Petroleum Corp.Court of Appeals for the Second Circuit · 1971
- Levy v. SeatonDistrict Court, S.D. New York · 1973
- Fed. Sec. L. Rep. P 98,020 Leo P. Portnoy v. Revlon, Inc., a Delaware Corporation, and Cooper Laboratories, Inc., a Delaware CorporationCourt of Appeals for the Seventh Circuit · 1981
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