Donald Johnson, Individually and on Behalf of All Others Similarly Situated v. James D. Aljian Kirk Kerkorian Tracinda Corporation
Court of Appeals for the Ninth Circuit
1Opinion of the Court
O’SCANNLAIN, Circuit Judge.
We must decide a case of first impression involving insider trading liability under the federal securities laws.
I
On August 21, 2003, Donald Johnson, 1 on behalf of himself and all other persons who purchased the common stock of Daim-lerChrysler AG (“DaimlerChrysler”) on nine different dates between March 19, 1999, and June 11, 1999, brought this as-yet-uncertified securities fraud class action against James D. Aljian, Kirk Kerkorian, and Tracinda Corporation. 2 Kerkorian is an executive and sole shareholder of Tra-cinda. 3 Aljian is an executive of Tracinda and a…
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