Legal Opinion
Portnoy v. Seligman & Latz, Inc.
District Court, S.D. New York
Decided June 23, 1981No. 78 Civ. 4632 (CHT)PublishedCited by 11 opinions
1Opinion of the Court
OPINION
TENNEY, District Judge.
The plaintiff, Leo Portnoy, charges the defendants with violations of section 16(b) of the Securities Exchange Act of 1934 (the “Act”), which prohibits corporate insiders from retaining any profits realized on short-swing investments in their company’s securities. 15 U.S.C. § 78p(b). Portnoy urges the Court to disgorge the defendants’ profits on a singular sale of stock warrants. Whether his complaint is viewed under the objective or pragmatic approach to section 16(b), the defendants are entitled to summary judgment.
Background
The defendants, Sidney Singer,…
2Cases cited24 opinions
- Smolowe v. Delendo CorporationCourt of Appeals for the Second Circuit · 1943
- 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
- Park & Tilford, Inc. v. SchulteCourt of Appeals for the Second Circuit · 1947
19 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Sheila Ann Ip v. United States of America Martin LumCourt of Appeals for the Ninth Circuit · 2000
- Seinfeld v. Hospital Corp. of AmericaDistrict Court, N.D. Illinois · 1988
- Fed. Sec. L. Rep. P 90,297, 12 Fla. L. Weekly Fed. C 156 Forrest Kelly Clay, Individually and on Behalf of All Those Similarly Situated v. Riverwood International Corporation, Thomas H. JohnsonCourt of Appeals for the Eleventh Circuit · 1998
- Clay v. Riverwood International Corp.Court of Appeals for the Eleventh Circuit · 1998
- Fed. Sec. L. Rep. P 98,687 Leo P. Portnoy v. Texas International Airlines, Inc.Court of Appeals for the Seventh Circuit · 1982
6 more not listed; retrieve them via the Exa API.