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BLAU v. MAX FACTOR & COMPANY

No. 19202.

342 F.2d 304 (1965)

Isadore BLAU, Appellant, v. MAX FACTOR & COMPANY et al., Appellees.

United States Court of Appeals Ninth Circuit.

February 24, 1965.

Attorney(s) appearing for the Case

Robert Kenny, Kenny, Morris & Ibanez, Los Angeles, Cal., Morris J. Levy, New York City, for appellant.

Carl J. Schuck, Wayne H. Knight, of Overton, Lyman & Prince, Los Angeles, Cal., for appellee Max Factor & Co.

Samuel O. Pruitt, Jr., Herbert F. Sturdy, Francis M. Wheat, Gibson, Dunn & Crutcher, Los Angeles, Cal., for individual appellees.

Philip A. Loomis, Jr., Gen., Counsel, Walter P. North, Asso. Gen. Counsel, Jacob H. Stillman, Attorney, Sec. & Ex. Comm., Washington, D. C. for Sec. & Ex. Comm., amici curiæ.

Before BARNES, HAMLEY, and BROWNING, Circuit Judges.

BROWNING, Circuit Judge:

Appellant, a stockholder of Max Factor & Co., brought this action under section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C.A. § 78p(b),1 to recover, on behalf of the corporation, profits said to have been realized by corporate insiders in a short-swing speculation in the company's Class A stock. The district court granted appellees' motion for summary...

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