DIAMOND v. OREAMUNO


24 N.Y.2d 494 (1969)

Herman Diamond, Respondent, v. Walter R. Oreamuno et al., Appellants, et al., Defendants.

Court of Appeals of the State of New York.

Decided May 15, 1969.


Attorney(s) appearing for the Case

Norman Moloshok, Robert H. Kilroe and Evan L. Gordon for appellants.

Sidney B. Silverman for respondent.

Judges BURKE, SCILEPPI, BERGAN, KEATING, BREITEL and JASEN concur.


Chief Judge FULD.

Upon this appeal from an order denying a motion to dismiss the complaint as insufficient on its face, the question presented — one of first impression in this court — is whether officers and directors may be held accountable to their corporation for gains realized by them from transactions in the company's stock as a result of their use of material inside information.

The...

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