Lockheed Aircraft Corp. v. Rathman

BYRNE, District Judge.

This is an action brought by Lockheed Aircraft Corporation against one of its former employees to recover profits realized by the employee from the sale of 1,000 shares of the capital stock of plaintiff corporation. The claim arises under 15 U.S. C.A. § 78p(b), which provides:

“(b) For the purpose of preventing the unfair use of information which may have been obtained by such beneficial owner, director, or officer by reason of his relationship to the issuer, any profit realized by him from any purchase and sale, or any sale and purchase, of any equity security of such…