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CHAMPION HOME BUILDERS CO. v. JEFFRESS

No. 73-1341.

490 F.2d 611 (1974)

CHAMPION HOME BUILDERS CO., a Michigan Corporation, Plaintiff, Joseph L. Kramer et al., Intervenor-Plaintiffs-Appellants, v. Etson B. JEFFRESS, Defendant-Appellee.

United States Court of Appeals, Sixth Circuit.

Decided January 11, 1974.

Attorney(s) appearing for the Case

Robert B. Block, New York City, for intervenor-plaintiffs-appellants; Pomerantz, Levy, Haudek & Block, New York City, Louisell, Chilingirian & Kovaleski, Detroit, Mich., on brief.

James C. Sargent, New York City, for defendant-appellee; Whitman & Ransom, New York City, Scholl, Jenkins, Robinson & Stieg, Detroit, Mich., on brief.

Before PHILLIPS, Chief Judge, and EDWARDS and McCREE, Circuit Judges.

PHILLIPS, Chief Judge.

This action was brought on behalf of a corporation to recover short-swing profits from the sale of stock by an insider. The issue on appeal is whether the purchase of the stock, within the meaning of § 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), occurred within a period of less than six months prior to its sale.

In an opinion published at 352 F.Supp. 1081 (E.D.Mich...

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