Legal Opinion
Prager Ex Rel. Gable Industries, Inc. v. Sylvestri
District Court, S.D. New York
Decided April 18, 1978No. 75 Civ. 4829 (RLC)PublishedCited by 20 opinions
1Opinion of the Court
OPINION
ROBERT L. CARTER, District Judge.
Plaintiff alleges a violation of § 16(b) of the 1934 Securities Exchange Act, 15 U.S.C. § 78p(b). This section, aimed at curbing certain forms of corporate insider abuse of non-public information, requires that insiders disgorge to the corporation any profits realized within a period of six months on any purchase and sale of the corporation’s stock. 1 Before the court are cross motions for summary judgment. Since I conclude that defendant’s sale of Gable stock occurred more than six months after his last purchase, no § 16(b) liability arises from these…
2Cases cited17 opinions
- Smolowe v. Delendo CorporationCourt of Appeals for the Second Circuit · 1943
- Kern County Land Co. v. Occidental Petroleum Corp.Supreme Court of the United States · 1973
- Reliance Electric Co. v. Emerson Electric Co.Supreme Court of the United States · 1972
- Foremost-McKeeson, Inc. v. Provident Securities Co.Supreme Court of the United States · 1976
- Isadore Blau v. Max Factor & CompanyCourt of Appeals for the Ninth Circuit · 1965
12 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Haberman v. Washington Public Power Supply SystemWashington Supreme Court · 1988
- Mendell ex rel. Viacom Inc. v. GollustCourt of Appeals for the Second Circuit · 1990
- Mendell v. GollustCourt of Appeals for the Second Circuit · 1990
- Markowitz v. BrodyDistrict Court, S.D. New York · 1981
- Colan v. Monumental Corp.District Court, N.D. Illinois · 1981
15 more not listed; retrieve them via the Exa API.