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COLAN v. MESA PETROLEUM CO.

Nos. 90-55641, 90-55643.

941 F.2d 933 (1991)

David COLAN, Plaintiff, and Unocal Corporation, Plaintiff-Appellant, v. MESA PETROLEUM CO., et al., Defendants-Appellees. David COLAN, Plaintiff-Appellant, and Unocal Corporation, Plaintiff, v. MESA PETROLEUM CO., et al., Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided August 8, 1991.

Attorney(s) appearing for the Case

Darryl Snider, Brobeck, Phleger & Harrison, Los Angeles, Cal., for plaintiff-appellant Unocal.

William Lerach, Milberg, Weiss, Bershad, Specthrie & Lerach, San Diego, Cal., for plaintiff-appellant David Colan.

James Edward Maloney, Baker & Botts, Houston, Tex., for defendants-appellees.

Before GOODWIN, PREGERSON and ALARCON, Circuit Judges.

ALARCON, Circuit Judge:

In this action for recovery of short-swing profits brought pursuant to section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b), Unocal Corporation appeals from the denial of its cross motion for summary judgment, and the order granting a motion for summary judgment in favor of Mesa Petroleum Company, Mesa Southern Company, Mesa Asset Company, CY-41, Inc., and Jack-41, Inc. (Mesa Defendants). We must decide whether an exchange...

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