Stella v. Graham-Paige Motors Corp.

DIMOCK, District Judge.

This action under section 16(b) of the Securities Exchange Act of 1934, 15 U.S. *391C. § 78p(b), which gives a right of recovery of “short swing” profits made by insiders, was tried before me. After trial I filed an opinion, D.C., 132 F.Supp. 100, in which I held that plaintiff had made prima facie proof that defendant Graham-Paige Motors Corporation had made a profit of $434,787.86 on a short swing purchase and sale of stock of defendant Kaiser-Frazer Corporation. I further held, however, that plaintiff had not only the burden of making prima facie proof of profit by…