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BRENNER v. CAREER ACADEMY, INC.

No. 71-1675.

467 F.2d 1080 (1972)

Donald BRENNER, Plaintiff-Appellee, v. CAREER ACADEMY, INC., Defendant-Appellee, v. Fred W. JOHNSON, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided September 12, 1972.

Rehearing Denied November 14, 1972.

Attorney(s) appearing for the Case

David E. Beckwith and Robert P. Goldstein, Milwaukee, Wis., for defendants-appellants; Foley & Lardner, Milwaukee, Wis., of counsel.

Sidney L. Garwin and Bertram Bronzaft, New York City, M. P. Frank, Gerald J. Kahn, Milwaukee, Wis., for plaintiff-appellee.

Before DUFFY, Senior Circuit Judge, DURFEE, Senior Judge, and ESCHBACH, District Judge.

DURFEE, Senior Judge.

This stockholder's derivative suit was instituted in the United States District Court for the Eastern District of Wisconsin.1 Plaintiff sought to recover short-swing profits from defendant Fred Johnson, pursuant to section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b). The parties agreed that there existed no genuine issue of material fact with respect to the question of liability, and plaintiff...

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