Harold KORNFELD and Thelma Kornfeld, stockholders of The Norwich Pharmacal Company, suing on behalf of themselves and all other stockholders similarly situated and on behalf and in the right of The Norwich Pharmacal Company, Plaintiffs,
v.
Thomas J. EATON and The Norwich Pharmacal Company, Defendants.
United States District Court S. D. New York.https://leagle.com/images/logo.png
April 24, 1963.
April 24, 1963.
Attorney(s) appearing for the Case
Morris J. Levy, New York City, for plaintiffs.
Hancock, Dorr, Ryan & Shove, Syracuse, N. Y., for defendant, Thomas J. Eaton; Philip T. Seymour, William Allen, Jr., Syracuse, N. Y., of counsel.
Bernard J. Schulte, Bradford S. Allen, Terrence A. Elkes, Norwich, N. Y., for defendant, The Norwich Pharmacal Co.
Peter A. Dammann, Gen. Counsel, Walter P. North, Assoc. Gen. Counsel, Jacob H. Stillman, Washington, D. C., of counsel, for Securities and Exchange Commission, amicus curiae.
United States District Court S. D. New York.
WEINFELD, District Judge.
These are cross-motions for summary judgment in an action brought under section 16(b) of the Securities Exchange Act of 19341 on behalf of the Norwich Pharmacal Company to recover shortswing profits realized by one of its officers and directors. The matter is ripe for summary judgment since the basic facts are not in dispute. What is at issue is the validity of Rule...
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