Legal Opinion
EDITEK, INC., Appellant, v. MORGAN CAPITAL, L.L.C.; Alex Bistricer; David Bistricer, Appellees
Court of Appeals for the Eighth Circuit
Decided July 24, 1998No. 97-3400PublishedCited by 6 opinions
1Opinion of the Court
FAGG, Circuit Judge.
Editek, Inc. brought this lawsuit against Morgan Capital, L.L.C. and its officers, Alex and David Bistricer (collectively Morgan Capital), under § 16(b) of the Securities Exchange Act of 1934 (the 1934 Act), 15 U.S.C. § 78p(b), to recover claimed short-swing profits. Section 16(b) applies only to corporate insiders: directors, officers, and beneficial owners of more than ten percent of a corporation’s registered equity securities (ten percent beneficial owners). Only the ten percent beneficial owner category is involved here. Based on a misreading of the applicable rules,…
2Cases cited5 opinions
- Coleman v. WattCourt of Appeals for the Eighth Circuit · 1994
- Foremost-McKeeson, Inc. v. Provident Securities Co.Supreme Court of the United States · 1976
- Frey v. City of HerculaneumCourt of Appeals for the Eighth Circuit · 1995
- Doe v. Norwest Bank Minnesota, N.A.Court of Appeals for the Eighth Circuit · 1997
- Editek, Inc. v. Morgan Capital, L.L.C.District Court, D. Minnesota · 1997
3Cited by6 opinions
- Cunningham v. PFL Life InsuranceDistrict Court, N.D. Iowa · 1999
- Robin C. McDermott v. Thomas RoyalCourt of Appeals for the Eighth Circuit · 2007
- Medtox Scientific, Inc. v. Morgan Capital L.L.C.District Court, D. Minnesota · 1999
- Medtox Scientific, Inc., Formerly Known as Editek, Inc. v. Morgan Capital, L.L.C., Alex Bistricer, David BistricerCourt of Appeals for the Eighth Circuit · 2001
- Bistricer v. Singer, Bienenstock, Zamansky, Ogele & Selengut, LLPAppellate Division of the Supreme Court of the State of New York · 2005
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