Legal Opinion
Kornfeld v. Eaton
District Court, S.D. New York
Decided April 24, 1963PublishedCited by 7 opinions
1Opinion of the Court
WEINFELD, District Judge.
These are cross-motions for summary judgment in an action brought under section 16(b) of the Securities Exchange Act of 1934 1 on behalf of the Norwich Pharmacal Company to recover short-swing profits realized by one of its officers and directors. The matter is ripe for summary judgment since the basic facts are not in dispute. What is at issue is the validity of Rule X-16B-6 of the Securities and Exchange Commission which in effect limits the amount of profits recoverable when stock, involved in a short-swing transaction, has been purchased by an “insider” 2 by the…
2Cases cited18 opinions
- Blau v. LehmanSupreme Court of the United States · 1962
- Benjamin D. And Madeline Prentice Gilbert v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- International Stevedoring Co. v. HavertySupreme Court of the United States · 1926
- Smolowe v. Delendo CorporationCourt of Appeals for the Second Circuit · 1943
- Gratz v. ClaughtonCourt of Appeals for the Second Circuit · 1951
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3Cited by7 opinions
- Securities and Exchange Commission v. Texas Gulf Sulphur CompanyDistrict Court, S.D. New York · 1966
- Blau v. LambCourt of Appeals for the Second Circuit · 1966
- Isadore Blau v. Max Factor & CompanyCourt of Appeals for the Ninth Circuit · 1965
- Blau v. LambCourt of Appeals for the Second Circuit · 1966
- Kornfeld v. EatonCourt of Appeals for the Second Circuit · 1964
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