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PORTNOY v. KAWECKI BERYLCO INDUSTRIES, INC.

No. 79-1240.

607 F.2d 765 (1979)

Leo P. PORTNOY, Plaintiff-Appellant, v. KAWECKI BERYLCO INDUSTRIES, INC., et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided October 1, 1979.

Rehearing and Rehearing Denied November 14, 1979.

Attorney(s) appearing for the Case

Jerrold M. Shapiro, Chicago, Ill., for plaintiff-appellant.

Kimball R. Anderson, Winston & Strawn, Donald B. Hilliker, Isham, Lincoln & Beale, Chicago, Ill., for defendants-appellees.

Before FAIRCHILD, Chief Judge, and SWYGERT and PELL, Circuit Judges.

Rehearing and Rehearing In Banc Denied November 14, 1979.

PELL, Circuit Judge.

The sole issue in this appeal is whether the plaintiff, a shareholder of both Cabot Corporation (Cabot) and Kawecki Berylco Industries, Inc. (KBI), has standing to bring an action under Section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), for recovery of profits allegedly obtained by International Mining Corporation (IMC) from short-swing trading of shares...

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