Fistel v. Christman

MARSH, District Judge.

Plaintiff brought this suit under the provisions of Sections 16(b) and 27 of the Securities Exchange Act of 1934, 15 U.S. C.A. §§ 78p(b) and 78aa, and other relevant sections.

The complaint alleges that between June 8, 1948, and November 1, 1948, a period of less than six months, the individual defendant purchased 21,088 shares, more or less, of Follansbee Steel Corporation common stock and sold 5,200 shares, more or less, realizing profits thereon, which did not inure to and were not recovered by the issuing corporation.

The defendant Christman, hereinafter called…