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EMERSON ELECTRIC MANUFACTURING CO. v. O'NEILL

No. 58 C 307(2).

168 F.Supp. 804 (1958)

The EMERSON ELECTRIC MANUFACTURING COMPANY, a corporation, Plaintiff, v. E. L. O'NEILL and W. R. Persons, Defendants.

United States District Court E. D. Missouri, E. D.

November 10, 1958.

Attorney(s) appearing for the Case

Marion S. Francis (of Bryan, Cave, McPheeters & McRoberts), St. Louis, Mo., for plaintiff.

Arthur B. Shepley, Jr. (of Shepley, Kroeger, Fisse & Shepley), St. Louis, Mo., for defendants.

HARPER, District Judge.

Plaintiff is seeking recovery of profits made by defendants on purchases and sales of plaintiff's common stock. Defendants are officers of the plaintiff corporation, and this action is brought under the Securities Exchange Act, Section 16(b), 15 U.S.C.A. § 78p(b), which provides as follows:

"(b) For the purpose of preventing the unfair use of information which may have been obtained by such beneficial owner, director, or officer...

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