Fed. Sec. L. Rep. P 95,723 Jerry D. Fridrich v. J. C. Bradford
Court of Appeals for the Sixth Circuit
1Opinion of the Court
ENGEL, Circuit Judge.
On April 27, 1972 J. C. Bradford, Jr. purchased 1,225 shares of common stock of Old Line Life Insurance Company (Old Line). The shares were purchased on inside information Bradford, Jr. had received on a tip from his father. The shares were pur-
chased on the over-the-counter market from J. C. Bradford and Co., a Nashville brokerage firm of which Bradford, Jr. and his father are managing partners. Subsequent to the purchase, Old Line stock increased in value and on July 27, 1972, Bradford, Jr. sold the 1,225 shares, reaping a profit of $13,000 on the transaction.
The…
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