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PROVIDENT SECURITIES CO. v. FOREMOST-McKESSON, INC.

No. C-70 460.

331 F.Supp. 787 (1971)

PROVIDENT SECURITIES COMPANY, a California corporation, Plaintiff, v. FOREMOST-McKESSON, INC., a Maryland corporation, Defendant.

United States District Court, N. D. California.

September 15, 1971.

Attorney(s) appearing for the Case

John B. Bates, William S. Mailliard, Jr., Pillsbury, Madison & Sutro, San Francisco, Cal., for plaintiff.

Edward D. Landels, Philip E. Diamond, Michael L. Parker, Landels, Ripley & Diamond, San Francisco, Cal., for defendant.

SCHNACKE, District Judge.

This is an action for declaratory relief brought by Provident Securities Company, a dissolved California corporation, to determine its nonliability to Foremost-McKesson, Inc. for short-swing profits under § 16(b) of the Securities Exchange Act of 1934, 15 U.S.C.A. § 78p(b).

Foremost has filed a counterclaim seeking a declaration of such liability. The matter is before the Court on cross motions for summary judgment and partial...

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