Mark Feder, Derivatively on Behalf of Ivax Corporation v. Philip Frost, Frost-Nevada, Limited Partnership

How courts have described this case

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

• noting that the statute “is a prophylactic measure designed to deter insider short-swing trading”
• attributing to an individual and a partnership wholly controlled by him sales conducted by a corporation of which he was a director and was, together with the partnership, a principal stockholder
• “no showing of actual misuse of inside information or of unlawful intent is necessary to compel disgorgement.”
• “Beneficiaries of a trust generally will not have the requisite voting or investment control to be beneficial owners for the purpose of determining insider status.”

Source: CourtListener parenthetical corpus (CC0).