Legal Opinion
John Olagues v. Ward Timken, Jr.
Court of Appeals for the Sixth Circuit
Decided November 14, 2018No. 18-3351PublishedCited by 55 opinions
1Opinion of the Court
NALBANDIAN, Circuit Judge.
John Olagues is a self-proclaimed stock options expert, travelling the country to file claims under § 16(b) of the Securities and Exchange Act of 1934. Under § 16(b), a shareholder can bring an insider trading action to disgorge "short-swing" profits that an insider obtained improperly. But there is a catch. Although the shareholder can bring the lawsuit, any recovery goes only to the company. In other words, § 16(b) allows a shareholder to pursue claims on behalf of the company. This creates a problem for Olagues because he begins most of his lawsuits in the same…
2Cases cited20 opinions
- Osborn v. Bank of United StatesSupreme Court of the United States · 1824
- Simon v. Hartford Life, Inc.Court of Appeals for the Ninth Circuit · 2008
- Tal v. HoganCourt of Appeals for the Tenth Circuit · 2006
- Timson v. SampsonCourt of Appeals for the Eleventh Circuit · 2008
- Bill Wayne Shepherd v. Billy WellmanCourt of Appeals for the Sixth Circuit · 2002
15 more not listed; retrieve them via the Exa API.
3Cited by55 opinions
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- Crosby v. Twitter, Inc.Court of Appeals for the Sixth Circuit · 2019
- PolyOne Corp. v. Westlake Vinyls, Inc.Court of Appeals for the Sixth Circuit · 2019
- Anderson v. WorthingtonDistrict Court, E.D. Kentucky · 2020
- Ashley Humphrey, individually and as next friend of J.H., a minor v. Maury County Board of Education, et al.District Court, M.D. Tennessee · 2026
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