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C.R.A. REALTY CORP. v. CROTTY

No. 86 Civ. 7362 (RLC).

663 F.Supp. 444 (1987)

C.R.A. REALTY CORP., Plaintiff, v. Joseph R. CROTTY and United Artists Communications, Inc., Defendants.

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

June 5, 1987.

Attorney(s) appearing for the Case

Levy and Levy, New York City (Morris J. Levy, of counsel), for plaintiff.

Marvin Luboff, East Meadow, N.Y., for defendant United Artists Communications, Inc.

John M. Sherwood, Moraga, Cal., for defendant Joseph R. Crotty.

OPINION

ROBERT L. CARTER, District Judge.

This case turns on whether defendant Joseph R. Crotty, a vice-president of defendant United Artists Communications, Inc. ("United Artists"), is an "officer" under Section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), and should be forced to disgorge profits he made on the purchase and sale of United Artists common stock within a six-month period.

The defendants, claiming that Crotty...

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