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STELLA v. GRAHAM-PAIGE MOTORS CORPORATION

132 F.Supp. 100 (1955)

Michael STELLA, suing in his own behalf and on behalf of all other stockholders of Kaiser-Frazer Corporation similarly situated, Plaintiff, v. GRAHAM-PAIGE MOTORS CORPORATION and Kaiser-Frazer Corporation, Defendants.

United States District Court S. D. New York.

June 9, 1955.

Attorney(s) appearing for the Case

Lewis M. Dabney, Jr., New York City, for plaintiff. Murray C. Bernays, New York City, of counsel.

Garey & Garey, New York City, for defendant Graham-Paige Motors Corp., Wm. Francis Corson, Ambrose V. McCall, Sol Irving Sokolsky, New York City, of counsel.

Willkie, Owen, Farr, Gallagher & Walton, New York City, for defendant Kaiser-Frazer Corp., H. Bartow Farr, Jr., New York City, of counsel.

DIMOCK, District Judge.

Michael Stella, a stockholder in Kaiser-Frazer Corporation, suing in behalf of himself and all other stockholders similarly situated, brings this action against Graham-Paige Motors Corporation under section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), quoted in part infra, which gives a right of recovery of short swing profits made by insiders. Kaiser-Frazer, having refused to bring this action after being requested...

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