United States Second Circuit

In a disgorgement claim brought by plaintiff on behalf of the stock issuer, judgment for plaintiff is affirmed where the court concluded that short-swing trading in an issuer’s stock by a 10% beneficial owner in violation of Section 16(b) of the Securities Exchange Act causes injury to the issuer sufficient to establish plaintiff's constitutional standing.

Appellate Information

• Decided 10/01/2012
• Published 10/01/2012

Judges

• REENA RAGGI

Court

• United States Second Circuit

Counsel