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WESTERN AUTO SUPPLY COMPANY v. GAMBLE-SKOGMO, INC.

No. 17748.

348 F.2d 736 (1965)

WESTERN AUTO SUPPLY COMPANY and Beneficial Finance Co., Appellants, v. GAMBLE-SKOGMO, INC., Appellee.

United States Court of Appeals Eighth Circuit.

Rehearing Denied August 13, 1965.

Attorney(s) appearing for the Case

Armin M. Johnson, of Faegre & Benson, Minneapolis, Minn., for appellants.

Edward J. Callahan, Jr., of Callahan & Callahan, Minneapolis, Minn., Allen T. Rorem, Minneapolis, Minn., for appellee.

Philip A. Loomis, Jr., General Counsel, Securities and Exchange Commission, Washington, D. C., Walter P. North, Associate General Counsel, George P. Michaely, Jr., Sp. Counsel and Roy Nerenberg, Attorney for Securities and Exchange Commission, Washington, D. C., for Securities and Exchange Commission, Washington, D. C., amici curiae.

Before VAN OOSTERHOUT, BLACKMUN and MEHAFFY, Circuit Judges.

MEHAFFY, Circuit Judge.

This appeal is from a judgment of the United States District Court of Minnesota denying claims for recovery of alleged "short swing" profits from transactions in the common stock of Western Auto Supply Company of Missouri under § 16(b) of the Securities Exchange Act of 1934, 15 U.S.C.A. § 78p(b) and § 78aa.

Plaintiffs-appellants, Western Auto Supply Company and Beneficial Finance Co., both Delaware corporations, are hereafter...

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