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MENDELL ON BEHALF OF VIACOM, INC. v. GOLLUST

No. 87 Civ. 0085 (MBM).

793 F.Supp. 474 (1992)

Ira L. MENDELL, on Behalf of VIACOM, INC. and, alternatively, Viacom International, Inc., Plaintiff, v. Keith R. GOLLUST, Paul R. Tierney, Jr., Augustus K. Oliver, Gollust, Tierney and Oliver, Gollust & Tierney, Inc., Coniston Partners, Coniston Institutional Investors, Baker Street Partners, WJB Associates, Helston Investment Inc., Viacom Inc., and Viacom International Inc., Defendants.

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

May 18, 1992.

Attorney(s) appearing for the Case

Irving Malchman, Kaufman, Malchman, Kaufmann & Kirby, New York City, for plaintiff.

Edwin B. Mishkin, David E. Brodsky, Cleary, Gottlieb, Steen & Hamilton, New York City, for defendants (other than Viacom Inc. and Viacom International Inc.).

OPINION AND ORDER

MUKASEY, District Judge.

Plaintiff Ira L. Mendell sues on behalf of Viacom Inc. and alternatively Viacom International, Inc., to recover profits defendants allegedly realized by trading Viacom International stock in violation of § 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b). Section 16(b) prohibits an owner of more than 10% of any class of an issuer's securities from purchasing and selling or selling and purchasing...

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