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ALLIED ARTISTS PICTURES CORPORATION v. GIROUX

No. 68-Civ. 2462.

312 F.Supp. 450 (1970)

ALLIED ARTISTS PICTURES CORPORATION, Plaintiff, v. Claude A. GIROUX, Defendant.

United States District Court, S. D. New York.

February 2, 1970.

Attorney(s) appearing for the Case

Hughes, Hubbard & Reed, New York City, for plaintiff; by Robert J. Sisk, Douglas F. Eaton, New York City, of counsel.

Epstein & Furman, New York City, for defendant; by Bernard Furman, New York City, of counsel.

CROAKE, District Judge.

MEMORANDUM

Plaintiff, Allied Artists Pictures Corporation [Allied] brings this action under Section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), against defendant Claude A. Giroux [Giroux], the former chairman of Allied. Plaintiff seeks to recover "short swing" profits from Giroux who was the owner of more than ten percent of Allied's preferred stock at the time in question.

During the fall of 1967...

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