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C.R.A. REALTY CORP. v. FREMONT GENERAL CORP.

No. 92-55407.

5 F.3d 1341 (1993)

C.R.A. REALTY CORP., Plaintiff-Appellant, v. FREMONT GENERAL CORP.; Lee Emerson McIntyre, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided September 28, 1993.

Attorney(s) appearing for the Case

David Lopez, Southampton, NY, for plaintiff-appellant.

Robert E. Willett and Lauren M. Yu, O'Melveny & Myers, Los Angeles, CA, for defendants-appellees.

Before NOONAN, FERNANDEZ and KLEINFELD, Circuit Judges.

NOONAN, Circuit Judge:

C.R.A. Realty Corp. (C.R.A.) brought a stockholder's suit for the recovery of shortswing profits under § 16(b) of the Securities Exchange Act, 15 U.S.C. § 78p(b), against Fremont General Corp. (Fremont) and Lee Emerson McIntyre (McIntyre). The precise issue before the district court was one of first impression. That court gave judgment for McIntyre. We reverse and direct that judgment be entered for the plaintiff.

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