Legal Opinion
Reliance Electric Co. v. Emerson Electric Co.
Supreme Court of the United States
Decided February 28, 1972No. 70-79PublishedCited by 197 opinions
1Opinion of the Court
Me, Justice Stewart
delivered the opinion of the Court.
Section 16 (b) of the Securities Exchange Act of 1934, 48 Stat. 896, 15 U. S. C. § 78p (b), provides, among other things, that a corporation may recover for itself the profits realized by an owner of more than 10% of its shares from a purchase and sale of its stock within any six-month period, provided that the owner held more than 10% “both at the time of the purchase and sale.” 1 In this case, the respondent, the owner of 13.2% of a corporation’s shares, disposed of its entire holdings in two sales, both of them within six months of…
2Cases cited11 opinions
- Blau v. LehmanSupreme Court of the United States · 1962
- Smolowe v. Delendo CorporationCourt of Appeals for the Second Circuit · 1943
- Colby v. KluneCourt of Appeals for the Second Circuit · 1949
- Fed. Sec. L. Rep. P 92,683 John Bershad v. Bernard P. McDonoughCourt of Appeals for the Seventh Circuit · 1970
- Margot Newmark v. Rko General, Inc., and Frontier Airlines, Inc.Court of Appeals for the Second Circuit · 1970
6 more not listed; retrieve them via the Exa API.
3Cited by197 opinions
- United Housing Foundation, Inc. v. FormanSupreme Court of the United States · 1975
- Roth v. JenningsCourt of Appeals for the Second Circuit · 2007
- Richard Morales v. Quintel Entertainment, Inc. And Peter StolzCourt of Appeals for the Second Circuit · 2001
- International Brotherhood of Teamsters v. DanielSupreme Court of the United States · 1979
- Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Jack BobkerCourt of Appeals for the Second Circuit · 1986
192 more not listed; retrieve them via the Exa API.