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MORALES v. MAPCO, INC.

No. 75-1414.

541 F.2d 233 (1976)

Richard MORALES, Plaintiff-Appellant, v. MAPCO, INC., and Donald B. Ross, Defendants-Appellees.

United States Court of Appeals, Tenth Circuit.

Decided August 27, 1976.

Attorney(s) appearing for the Case

David Lopez, pro se.

R. Thomas Seymour, Tulsa, Okl. (Lawrence T. Chambers, Jr., Doerner, Stuart, Saunders, Daniel & Langenkamp, Tulsa, Okl., on the brief), for defendant-appellee Ross.

Before McWILLIAMS, BREITENSTEIN and DOYLE, Circuit Judges.

BREITENSTEIN, Circuit Judge.

This is a stockholder's derivative action to recover for defendant Mapco short-swing profits said to have been made by defendant Ross, the financial vice president of Mapco. Suit was brought under § 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b). The district court granted summary judgment for Mapco and Ross. The stockholder appeals. We reverse.

So far as material, § 16(b) provides:

"For...

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