Legal Opinion
Morales v. Freund
Court of Appeals for the Second Circuit
Decided January 12, 1999No. Docket Nos. 98-7597, 98-7647PublishedCited by 24 opinions
1Opinion of the Court
CALABRESI, Circuit Judge:
Defendants Freund and Goldsmith each earned nearly one million dollars trading in the stock of defendant New Valley Corporation between March and September of 1994. Plaintiff Morales, a shareholder in New Valley, brought suit against Freund and Goldsmith pursuant to § 16(b) of the Securities Exchange Act of 1934 (the “ ’34 Act”), 15 U.S.C. § 78p(b), which provides that beneficial owners of more than ten percent of any class of an equity security must turn over, to the issuer of that security, any profits earned from a purchase and sale of the securities of that issuer…
2Cases cited5 opinions
- Fed. Sec. L. Rep. P 98,731 Arnold S. Wellman v. Fairleigh S. Dickinson, Jr.Court of Appeals for the Second Circuit · 1982
- Whittaker v. Whittaker Corp.Court of Appeals for the Ninth Circuit · 1981
- Morales v. New Valley Corp.District Court, S.D. New York · 1998
- Morales v. New Valley Corp.District Court, S.D. New York · 1996
- Morales v. New Valley Corp.District Court, S.D. New York · 1997
3Cited by24 opinions
- Roth v. JenningsCourt of Appeals for the Second Circuit · 2007
- Richard Morales v. Quintel Entertainment, Inc. And Peter StolzCourt of Appeals for the Second Circuit · 2001
- Mark Levy, Derivatively on Behalf of Immunogen Inc. v. Southbrook International Investments, Ltd. And Immunogen, Inc., Nominal-Defendant-AppelleeCourt of Appeals for the Second Circuit · 2001
- Aron Rosenberg v. Xm Ventures, a Maryland Trust and Motient Corporation, a Delaware CorporationCourt of Appeals for the Third Circuit · 2001
- SEC v. AhmedCourt of Appeals for the Second Circuit · 2023
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