Gibbons v. Malone

Memorandum & Order

BARBARA S. JONES, District Judge.

Plaintiff Michael Gibbons (“Gibbons”) brings suit under Section 16(b) of the Securities and Exchange Act of 1934, 15 U.S.C. § 78p(b), against John Malone (“Malone”) and Discovery Communications, Inc. (“Discovery”). Plaintiff, a shareholder of Discovery, alleges that Malone, then a director of Discovery, engaged in insider trading through transactions in Discovery’s common stock between December 5 and December 16, 2008. (Compl. ¶ 13.) Plaintiff seeks a disgorgement of Malone’s profit to Discovery plus interest, costs and an accounting of all…