Legal Opinion
Margot Newmark v. Rko General, Inc., and Frontier Airlines, Inc.
Court of Appeals for the Second Circuit
Decided April 30, 1970No. 612, Docket 34345PublishedCited by 64 opinions
1Opinion of the Court
IRVING R. KAUFMAN, Circuit Judge:
Section 16(b) of the Securities Exchange Act of' 1934 is one of several provisions of the federal securities laws designed to deter insiders from trading on the basis of information unavailable to the general public. 1 Commonly termed “a crude rule of thumb,” the statute seeks to prevent insiders from realizing profits on securities held for short periods of time. 2 It is not aimed solely at the actuality of evil, or the veritable employment of inside information for purely speculative purposes, but also at potentiality for evil inherent in all insider…
2Cases cited11 opinions
- Blau v. LehmanSupreme Court of the United States · 1962
- Park & Tilford, Inc. v. SchulteCourt of Appeals for the Second Circuit · 1947
- Blau v. Mission Corp.Court of Appeals for the Second Circuit · 1954
- Blau v. OgsburyCourt of Appeals for the Second Circuit · 1954
- Heli-Coil Corporation v. Reginald WebsterCourt of Appeals for the Third Circuit · 1965
6 more not listed; retrieve them via the Exa API.
3Cited by64 opinions
- Kern County Land Co. v. Occidental Petroleum Corp.Supreme Court of the United States · 1973
- Reliance Electric Co. v. Emerson Electric Co.Supreme Court of the United States · 1972
- Foremost-McKeeson, Inc. v. Provident Securities Co.Supreme Court of the United States · 1976
- Citadel Holding Corp., a Delaware Corporation v. Alfred Roven American Underwriters, Inc., a Delaware CorporationCourt of Appeals for the Ninth Circuit · 1994
- Fed. Sec. L. Rep. P 92,683 John Bershad v. Bernard P. McDonoughCourt of Appeals for the Seventh Circuit · 1970
59 more not listed; retrieve them via the Exa API.