Legal Opinion
Makofsky v. Ultra Dynamics Corporation
District Court, S.D. New York
Decided October 16, 1974No. 70 Civ. 3679PublishedCited by 25 opinions
1Opinion of the Court
MEMORANDUM
LASKER, District Judge.
This suit under § 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), is brought to recover short-swing profits allegedly realized by Ultra Dynamics Corp. (Ultra), in the sale of stock of Avis Industrial Corp. (Avis). The complaint is brought derivatively by an Avis shareholder. Makofsky alleges, and Ultra does not dispute, that Ultra acquired 49,744 shares of Avis Common Stock for $12. per share on September 30, 1969 and sold them at a substantial profit 1 on November 13, 1969. Both sides move for summary judgment on the issue of liability.
I
A.…
2Cases cited19 opinions
- Blau v. LehmanSupreme Court of the United States · 1962
- 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
- Gratz v. ClaughtonCourt of Appeals for the Second Circuit · 1951
14 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Whittaker v. Whittaker Corp.Court of Appeals for the Ninth Circuit · 1981
- Gloria Baker v. Latham Sparrowbush Associates and Aaron KozakCourt of Appeals for the Second Circuit · 1995
- Tyco Laboratories, Inc. v. Cutler-Hammer, Inc.District Court, S.D. New York · 1980
- Matas v. SiessDistrict Court, S.D. New York · 1979
- Morales v. Gould Investors TrustDistrict Court, S.D. New York · 1977
20 more not listed; retrieve them via the Exa API.