In Re: National Surety Corporation v. the State of Texas

How courts have described this case

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

• explaining that “any event that triggers liability under § 16(b) must first be a reportable event under § 16(a)”
• observing that Rule 16a-10 excludes from Section 16(b
• no liability for sales by defendant after its ownership interest fell below 10%
• for § 16(b) liability insider must be a 10% shareholder at the time of the terminal transaction
• “[W]here alternative constructions of the terms of § 16(b) are possible, those terms are to be given the construction that best serves the congressional purpose of curbing short-swing speculation by corporate insiders.”
• “Where alternative constructions of the terms of § 16(b) are possible, those terms are to be given the construction that best serves the congressional purpose of curbing short-swing speculation by corporate insiders.”

Source: CourtListener parenthetical corpus (CC0).