SWAN, Chief Judge.
Between November 1948 and April 1949, Lehman Brothers, a partnership, purchased and sold 5,000 shares of the common stock of Consolidated Vultee Aircraft Corporation, whose stock was duly registered on the New York Stock Exchange. From such "short swing" transactions the partnership realized a profit of some $15,000. One of the partners, John D. Hertz, was a director of the Aircraft Corporation. His share of the partnership's profits from the said...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.