Settling Section 16(b) Short Swing Claims: Who Gets a Seat at the Table?
By EsqSocial Corporation 26/01/21
In an opinion this month in Revive Investing LLC v. FBC Holdings S.A.R.L., Magistrate Judge Gorenstein of the Southern District of New York recommended the grant of summary judgment to the defendant in a Section 16(b) “short-swing profit” action after finding that a prior settlement agreement between the defendant and different plaintiffs was valid and contained a release that precluded the claim at issue. Although Judge Gorenstein rejected the defendant’s argument that only a minimal standard...
By: Cohen & Gresser LLP