Legal Opinion
Gibbons v. Malone
Court of Appeals for the Second Circuit
Decided January 7, 2013No. Docket 11-3620-cvPublishedCited by 116 opinions
1Opinion of the Court
JOSÉ A. CABRANES, Circuit Judge:
Section 16(b) of the Securities Exchange Act of 1934 (the “1934 Act”) provides for the disgorgement of profits that corporate insiders 1 realize “from any purchase and sale, or any sale and purchase, of any equity security of [the corporate] issuer ... within any period of less than six months.” 15 U.S.C. § 78p(b). The question presented is whether this so-called “short-swing profit rule” applies when a corporate insider sells shares of one type of stock issued by the insider’s company and purchases shares of a different type of stock in that same company. We…
2Cases cited19 opinions
- Ashcroft v. IqbalSupreme Court of the United States · 2009
- Analytical Surveys, Inc. v. Tonga Partners, L.P.Court of Appeals for the Second Circuit · 2012
- Blau v. LehmanSupreme Court of the United States · 1962
- Smolowe v. Delendo CorporationCourt of Appeals for the Second Circuit · 1943
- Reliance Electric Co. v. Emerson Electric Co.Supreme Court of the United States · 1972
14 more not listed; retrieve them via the Exa API.
3Cited by116 opinions
- In re: Bernard L. Madoff Investment Securities LLCCourt of Appeals for the Second Circuit · 2014
- State of New York Ex Rel. Jacobson v. Wells Fargo National Bank, N.A.Court of Appeals for the Second Circuit · 2016
- M.E.S., Inc. v. SnellCourt of Appeals for the Second Circuit · 2013
- Verdi v. City of New YorkDistrict Court, S.D. Illinois · 2018
- Tucker v. American International Group, Inc.District Court, D. Connecticut · 2013
111 more not listed; retrieve them via the Exa API.