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MAKOFSKY v. ULTRA DYNAMICS CORPORATION

No. 70 Civ. 3679.

383 F.Supp. 631 (1974)

Marvin MAKOFSKY, Plaintiff, v. ULTRA DYNAMICS CORPORATION and Avis Industrial Corporation, Defendants.

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

October 16, 1974.

Attorney(s) appearing for the Case

Garwin & Bronzaft, New York City, for plaintiff.

Nickerson, Kramer, Lowenstein, Nessen, Kamin & Soll, New York City, for defendants; Geoffrey M. Kalmus, Michael S. Oberman, New York City, of counsel.

MEMORANDUM

LASKER, District Judge.

This suit under § 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), is brought to recover short-swing profits allegedly realized by Ultra Dynamics Corp. (Ultra), in the sale of stock of Avis Industrial Corp. (Avis). The complaint is brought derivatively by an Avis shareholder. Makofsky alleges, and Ultra does not dispute, that Ultra acquired 49,744 shares of Avis Common Stock for $12. per share...

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