Legal Opinion
Fed. Sec. L. Rep. P 93,596 Mouldings, Inc. v. Ernest E. Potter
Court of Appeals for the Fifth Circuit
Decided September 15, 1972No. 71-2867PublishedCited by 8 opinions
1Opinion of the Court
BELL, Circuit Judge:
This appeal is from a judgment rendered in favor of a corporation against an officer-director on a claim for profits due under § 16(b) of the Securities Exchage Act of 1934,1 15 U.S.C.A. § 78p. *1103We affirm as to liability. We vacate as to the amount of the judgment and remand with direction.
I
Potter, an officer and director of Mouldings, Inc., placed 8,000 shares of Mouldings stock with Bache and Company, as his broker, for sale. Bache promptly sold the stock for $200,305.54 and, in turn, used the funds to purchase other securities for Potter at his direction.
The sales by…
2Cases cited12 opinions
- Blau v. LehmanSupreme Court of the United States · 1962
- Smolowe v. Delendo CorporationCourt of Appeals for the Second Circuit · 1943
- 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
- Nicholas Ferraiolo v. F. R. NewmanCourt of Appeals for the Sixth Circuit · 1958
7 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Whittaker v. Whittaker Corp.Court of Appeals for the Ninth Circuit · 1981
- Log on America, Inc. v. Promethean Asset Management LLCDistrict Court, S.D. New York · 2001
- Fed. Sec. L. Rep. P 99,700 Gordon Gund, Cross-Appellant v. First Florida Banks, Inc., Formerly, First Financial Corporation, Cross-AppelleeCourt of Appeals for the First Circuit · 1984
- Penthouse International, Ltd. v. McAuliffeDistrict Court, N.D. Georgia · 1978
- Fed. Sec. L. Rep. P 93,596 Mouldings, Inc. v. Ernest E. PotterCourt of Appeals for the Fifth Circuit · 1972
3 more not listed; retrieve them via the Exa API.