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MILLER v. GENERAL OUTDOOR ADVERTISING CO.

No. 18, Docket 28781.

337 F.2d 944 (1964)

Irving MILLER, Plaintiff-Appellant, v. GENERAL OUTDOOR ADVERTISING CO., Inc., Gamble-Skogmo, Inc. and Alleghany Corporation, Defendants-Appellees. Securities and Exchange Commission, Amicus Curiae.

United States Court of Appeals Second Circuit.

Decided October 27, 1964.

Attorney(s) appearing for the Case

Stanley L. Kaufman, of Kaufman, Taylor & Kimmel, New York City (Shepard S. Miller, New York City, on the brief), for plaintiff-appellant.

James W. Deer, of Holtzmann, Wise & Shepard, New York City (MacDonald Smith, Irving S. K. Chin, New York City, on the brief), for defendants-appellees.

George P. Michaely, Jr., Sp. Counsel, S. E. C., Washington, D. C. (Philip A. Loomis, Jr., Gen. Counsel, Walter P. North, Associate Gen. Counsel, on the brief), for amicus curiae.

Lewis Carroll, Washington, D. C., for Alleghany Corp.

Before FRIENDLY, KAUFMAN and MARSHALL, Circuit Judges.

KAUFMAN, Circuit Judge:

Irving Miller, a stockholder in Alleghany Corporation, sued derivatively in behalf of the Corporation to recover alleged "short-swing" profits realized by Gamble-Skogmo, Inc., and its majority-owned subsidiary, General Outdoor Advertising Co., from what he claimed to be a purchase and sale of Alleghany stock during a six-month period. Miller based his suit on the provisions of Section 16 (b) of the Securities Exchange Act of 1934, 15 U.S.C...

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