MEDTOX SCIENTIFIC, INC. v. MORGAN CAPITAL, L.L.C.

No. 00-3719.

258 F.3d 763 (2001)

MEDTOX SCIENTIFIC, INC., formerly known as Editek, Inc., Plaintiff/Appellee, v. MORGAN CAPITAL, L.L.C., Defendant/Appellant, Alex Bistricer, David Bistricer, Defendants.

United States Court of Appeals, Eighth Circuit.

Filed: August 3, 2001.


Attorney(s) appearing for the Case

Joseph Zelmanovitz, argued, New York City (Harvey Eckart, St. Paul, MN, on the brief), for appellant.

Gregory J. Schaefer, argued, Minneapolis, MN (Duana J. Grage, on the brief), for appellee.

Before WOLLMAN, Chief Judge, HAMILTON, and MURPHY, Circuit Judges.


WOLLMAN, Chief Judge.

Morgan Capital, L.L.C. appeals from a district court2 order requiring it to disgorge the profits of short-swing stock sales. We affirm.

I.

The facts of this case are undisputed. On February 1, 1996, Medtox Scientific, Inc.3 issued shares of preferred stock. The preferred stock was convertible to Medtox's common stock, at the option of the holder, at a price equal to the...

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