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MILLS v. ELECTRIC AUTO-LITE

No. 64.

396 U.S. 375 (1970)

90 S.Ct. 616

24 L.Ed.2d 593

MILLS ET AL. v. ELECTRIC AUTO-LITE CO. ET AL.

Supreme Court of United States.

Decided January 20, 1970.

Attorney(s) appearing for the Case

Arnold I. Shure argued the cause for petitioners. With him on the briefs were Robert A. Sprecher, Edward N. Gadsby, and Mozart G. Ratner.

Albert E. Jenner, Jr., argued the cause for respondents. With him on the brief were Jerold S. Solovy and John G. Stifler.

Solicitor General Griswold, Lawrence G. Wallace, Philip A. Loomis, Jr., David Ferber, and Meyer Eisenberg filed a brief for the United States as amicus curiae.

MR. JUSTICE HARLAN delivered the opinion of the Court.

This case requires us to consider a basic aspect of the implied private right of action for violation of § 14 (a) of the Securities Exchange Act of 1934,1 recognized by this Court in J. I. Case Co. v. Borak, 377 U.S. 426 (1964). As in Borak the asserted wrong is that a corporate merger was accomplished through the use of a proxy...

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