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BLAU v. MISSION CORP.

No. 74, Docket 22804.

212 F.2d 77 (1954)

BLAU v. MISSION CORP. et al.

United States Court of Appeals Second Circuit.

Decided February 24, 1954.

On Rehearing April 19, 1954.

Writ of Certiorari Denied June 7, 1954.

Attorney(s) appearing for the Case

Morris J. Levy, New York City, for plaintiff-appellant.

David S. Hecht, New York City (Leve, Hecht, Hadfield & McAlpin, Barnabas B. Hadfield, and C. Lansing Hays, Jr., New York City, on the brief), for defendant-appellee Mission Corp.

Before CLARK, FRANK, and HINCKS, Circuit Judges.

Writ of Certiorari Denied June 7, 1954. See 74 S.Ct. 872.

CLARK, Circuit Judge.

This appeal brings before us once again the construction of § 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), providing for the recovery for the benefit of a corporation of so-called "short-swing profits" realized by an "insider" upon dealing in its stock.

On December 17, 1948, defendant Mission Corporation, pursuant to a plan to gain control...

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