Legal Opinion
Fed. Sec. L. Rep. P 98,020 Leo P. Portnoy v. Revlon, Inc., a Delaware Corporation, and Cooper Laboratories, Inc., a Delaware Corporation
Court of Appeals for the Seventh Circuit
Decided June 3, 1981No. 80-2374PublishedCited by 19 opinions
1Opinion of the Court
SPRECHER, Circuit Judge.
This case presents the question of whether there was a “sale” of stock within the meaning of Section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), 1 upon the execution of a formal merger agreement that contained several material conditions precedent to closing. Plaintiff, Leo P. Portnoy, brought this action under § 16(b) on behalf of Revlon, Inc. (“Revlon”), 2 the surviving corporation in the merger of Revlon and Barnes-Hind Pharmaceuticals, Inc. (“Barnes-Hind”), against Cooper Laboratories, Inc. (“Cooper”) to recover alleged shortswing profits…
2Cases cited10 opinions
- Kern County Land Co. v. Occidental Petroleum Corp.Supreme Court of the United States · 1973
- Foremost-McKeeson, Inc. v. Provident Securities Co.Supreme Court of the United States · 1976
- Fed. Sec. L. Rep. P 92,683 John Bershad v. Bernard P. McDonoughCourt of Appeals for the Seventh Circuit · 1970
- Blau v. OgsburyCourt of Appeals for the Second Circuit · 1954
- 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
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3Cited by19 opinions
- Gollust v. MendellSupreme Court of the United States · 1991
- Citadel Holding Corp., a Delaware Corporation v. Alfred Roven American Underwriters, Inc., a Delaware CorporationCourt of Appeals for the Ninth Circuit · 1994
- Glenn E. Tagatz v. Marquette UniversityCourt of Appeals for the Seventh Circuit · 1988
- Fed. Sec. L. Rep. P 93,146 David Colan v. Cutler-Hammer, Inc., Eaton Corporation, and Koppers Company, Inc., DefendantsCourt of Appeals for the Seventh Circuit · 1987
- In Re Alliance Pharmaceutical Corp. Securities LitigationDistrict Court, S.D. New York · 2003
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