Legal Opinion
B.T. Babbitt, Inc. v. Marshall S. Lachner
Court of Appeals for the Second Circuit
Decided May 19, 1964No. 28756_1PublishedCited by 26 opinions
1Opinion of the Court
KAUFMAN, Circuit Judge.
The primary issues involved in this appeal relate to the computation of “short-swing” profits recoverable by plaintiff B. T. Babbitt, Inc., in an action brought under § 16(b) of the Securities Exchange Act against its former president and director, Marshall S. Lachner. After a trial without a jury, the District Court awarded Babbitt profits of $30,194.12, with interest. For reasons to be explained shortly, we find this amount to be excessive, and we accordingly modify the judgment.
Although essentially undisputed, the relevant facts are somewhat complex. Thus, the…
2Cases cited7 opinions
- Smolowe v. Delendo CorporationCourt of Appeals for the Second Circuit · 1943
- Gratz v. ClaughtonCourt of Appeals for the Second Circuit · 1951
- Park & Tilford, Inc. v. SchulteCourt of Appeals for the Second Circuit · 1947
- Greene v. DietzCourt of Appeals for the Second Circuit · 1957
- Perlman v. TimberlakeDistrict Court, S.D. New York · 1959
2 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- Whittaker v. Whittaker Corp.Court of Appeals for the Ninth Circuit · 1981
- Isadore Blau v. Max Factor & CompanyCourt of Appeals for the Ninth Circuit · 1965
- Western Auto Supply Company and Beneficial Finance Co. v. Gamble-Skogmo, Inc.Court of Appeals for the Eighth Circuit · 1965
- Heli-Coil Corporation v. Reginald WebsterCourt of Appeals for the Third Circuit · 1965
- James E. Anderson and Alice Anderson v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1973
21 more not listed; retrieve them via the Exa API.