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BLAU v. LAMB

242 F.Supp. 151 (1965)

Isadore BLAU, a stockholder of Air-Way Industries, Inc., suing on behalf of himself and all other stockholders similarly situated and on behalf and in the right of Air-Way Industries, Inc., Plaintiff, v. Edward LAMB, Edward Lamb Enterprises, Inc., Dorothy K. Oswald, Executrix under the Last Will and Testament of Frank C. Oswald, deceased, Air-Way Industries, Inc., and Edward Lamb Foundation, Inc., Defendants.

United States District Court S. D. New York.

Supplemental Opinion June 5, 1965.

Attorney(s) appearing for the Case

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

Stember & Dershowitz, New York City, Jerome M. Stember, New York City, of counsel, J. Eugene Farber, Toledo, Ohio, for defendants.

TYLER, District Judge.

Isadore Blau, a stockholder of Air-Way Industries, Inc. ("Air-Way"), brings this action under Section 16(b) of the Securities Exchange Act of 1934, (15 U.S.C. § 78p(b)), to recover for the corporation "short-swing" profits realized in 1955 and 1956 by insiders of Air-Way.1 Trial was had before this court, sitting without a jury, on February 4, 10 and 11, 1965, and proposed findings of fact and conclusions of...

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