Miller v. General Outdoor Advertising Co.

KAUFMAN, Circuit Judge:

Irving Miller, a stockholder in Alleghany Corporation, sued derivatively in behalf of the Corporation to recover alleged “short-swing” profits realized by Gamble-Skogmo, Inc., and its majority-owned subsidiary, General Outdoor Advertising Co., from what he claimed to be-a purchase and sale of Alleghany stock, during a six-month period. Miller based his suit on the provisions of Section 16 (b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b). He appeals from the judgments entered upon orders, granting summary judgment to Gamble and General Outdoor. Because we…