Dismissal Of Investor’s Claim In Short-Swing Profit Dispute Upheld On Appeal

Mealey's (April 6, 2021, 2:17 PM EDT) -- NEW YORK — A federal district court did not err in dismissing a stockholder’s claim seeking disgorgement of alleged short-swing profits against a former executive of a consumer finance company because the stockholder failed to sufficiently show that the executive “purchased” and “sold” company shares he acquired in a call option, a Second Circuit U.S. Court of Appeals panel ruled April 5 in affirming....