Silverman v. Re

EDELSTEIN, District Judge.

This is an action under § 16(b) of the Securities and Exchange Act of 1934, 15 U.S.C. § 78p(b), 15 U.S.C.A. § 78p(b), to recover short swing profits. 1 Plaintiff is the beneficial owner of ten shares of the Class “A” common stock of the corporate defendant Rokeach. The corporation, to which the recovery runs, was named as a nominal party defendant. Whether this procedural step is required, because the corporation may be considered an indispensable party is unclear. See Loss, Securities Regulation 568 (Supp.1955). 2 The corporation now moves to be named as a party…