Adler v. Klawans

RYAN, District Judge.

Both plaintiff and defendants move for summary judgment in this action; the corporate defendant joins plaintiff in seeking relief against the individual defendant.

Plaintiff sues to require defendant Klawans to account and pay over to the corporate defendant all profits realized by him from his purchase and sale of the corporation’s common stock. The facts are not in dispute. Klawans admits on these motions that a corporation in which he has an interest sold stock of the corporate defendant (which is listed on the American Stock Exchange) after Klawans became a director of…