Fed. Sec. L. Rep. P 92,072 Harry Lewis v. William H. McAdam Sears, Roebuck and Co., and Sears Development Corporation

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that a shareholder of a parent corporation does not have standing to bring a Section 16(b) claim on behalf of subsidiaries
• plaintiff shareholder of parent but never held stock in the issuer or its surviving subsidiary
• plaintiff shareholder of parent but never held stock in the issuer or its surviving subsidiary
• “We will not confer standing on a plaintiff who falls outside the class of persons permitted by the language of the statute to bring suit merely because the only parties falling within the class choose not to exercise their right to sue.”

Source: CourtListener parenthetical corpus (CC0).