Legal Opinion
Gollust v. Mendell
Supreme Court of the United States
Decided June 10, 1991No. 90-659PublishedCited by 151 opinions
1Opinion of the CourtJustice Souter
Section 16(b) of the Securities Exchange Act of 1934, 48 Stat. 896, 15 U. S. C. § 78p(b), 1 imposes a general rule of strict liability on owners of more than 10% of a corporation’s listed stock for any profits realized from the purchase and sale, or sale and purchase, of such stock occurring within a 6-month period. These statutorily defined “insiders,” as well as the corporation’s officers and directors, are liable to the issuer of the stock for their short-swing profits, and are subject to suit “instituted ... by the issuer, or by the owner of any security of the issuer in the name and in…
2Cases cited18 opinions
- Warth v. SeldinSupreme Court of the United States · 1975
- Baker v. CarrSupreme Court of the United States · 1962
- Valley Forge Christian College v. Americans United for Separation of Church and State, Inc.Supreme Court of the United States · 1982
- United States Parole Commission v. GeraghtySupreme Court of the United States · 1980
- Crowell v. BensonSupreme Court of the United States · 1932
13 more not listed; retrieve them via the Exa API.
3Cited by151 opinions
- Hollingsworth v. PerrySupreme Court of the United States · 2013
- Paddington Partners v. Jean-Louis Bouchard, Herbert A. Denton, Econocom Finance Nv Econocom International N v. Jeffries & Company, Inc.Court of Appeals for the Second Circuit · 1994
- Thole v. U. S. Bank N. A.Supreme Court of the United States · 2020
- Credit Suisse Securities (Usa) LLC v. SimmondsSupreme Court of the United States · 2012
- Alfred Blasband v. Steven M. Rales Mitchell P. Rales John Doe 1-10 Danaher Corporation, Alfred Blasband, Derivatively on Behalf of Danaher CorporationCourt of Appeals for the Third Circuit · 1992
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