Allaire Corp. v. Okumus, 04-2149
Dismissal of an action under section 16(b) of the Securities Exchange Act of 1934 alleging liability for short-swing trades of plaintiff's stock is affirmed since the expiration of certain call options was not a purchase of plaintiff's stock for purposes of section 16(b) liability.
- Decided 01/05/2006
- Published 01/05/2006
Before: KEARSE, SACK, and SOTOMAYOR, Circuit Judges.
United States Second Circuit
John H. Henn, Foley Hoag, LLP (Steven W. Phillips, of counsel), Boston, MA, for Plaintiff-Appellant.
Jonathan Honig, Feder Kaszovitz, Isaacson, Weber, Skala, Bass & Rhine, LLP, New York, NY, for Defendants-Appellees.