Dismissal Of Short-Swing Profit Shareholder Derivative Suit Affirmed

Mealey's (January 17, 2019, 1:18 PM EST) -- DENVER — A 10th Circuit U.S. Court of Appeals panel on Jan. 16 ruled that a federal district court did not err in granting summary judgment in favor of an energy company and certain of its senior executives in a shareholder derivative action because a shareholder failed to show that the defendants were required to disgorge more than $384,000 in short-swing profits obtained as part of a restricted stock unit (RSU) agreement as required by federal securities law (John Olagues v. Richard E. Muncrief, et al., No. 18-5018, 10th Cir., 2019 U.S. App. LEXIS 1393)....

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