Metal Management, Inc.
In Roth v. Jennings, 489 F.3d 499 (2nd Cir. 2007), the Second Circuit Court revisited the issue of pleading a “group” 1 for purposes of Section 13(d) of the Securities Exchange Act of 1934. The court reversed a district court’s dismissal of a plaintiff’s Section 16(b) claim seeking disgorgement of…
New Judicial Opinions
This case is an appeal from the dismissal of a derivative suit filed on behalf of issuer (nominal defendant MMI). Plaintiff sought disgorgement to issuer of “short-swing profits” made by issuer’s former chairman (defendant Jennings) and a private company (defendant EMR), which held 14.8% of issuer’s stock. The district court…
Date of ruling: