Franklin v. Blaylock

McLEAN, District Judge.

This is the first of a series of four actions by stockholders of Ling-Temco-Vought, Inc. (“Ling-Temco”), pursuant to Section 16(b) of the Securities Exchange Act of 1934 (15 U.S.C. § 78p(b)) to recover short-swing profits allegedly made by officers, directors and an alleged ten per cent stockholder of Chance Vought Corporation (“Chance Vought”), and by officers and directors of LingTemco. Defendants have moved in each action under 28 U.S.C. § 1404(a) to transfer the action to the United States District Court for the Northern District of Texas, Dallas Division.

The…