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ROBERTS v. EATON

No. 213, Docket 22973.

212 F.2d 82 (1954)

ROBERTS v. EATON et al.

United States Court of Appeals, Second Circuit.

Decided April 5, 1954.

Attorney(s) appearing for the Case

Murray C. Bernays, New York City (Henry H. Shepard and Ellis J. Freedman, New York City, on the brief), for plaintiff-appellant.

Inzer B. Wyatt, New York City (Sullivan & Cromwell, Wm. Ward Foshay, and Francis Elwood Barkman, New York City, on the brief), for defendants-appellees.

Before CLARK, MEDINA, and HARLAN, Circuit Judges.

CLARK, Circuit Judge.

This appeal presents yet another problem in the considerable series we have had involving the meaning of "purchase" and "sale" as used in § 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), holding short-swing profits from dealings by "insiders" in securities of a corporation recoverable for the benefit of the corporation. Our earlier decisions are cited and discussed hereinafter...

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