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GOLD v. SCURLOCK

Civ. A. No. 4990-A.

324 F.Supp. 1211 (1971)

Betty L. GOLD, on behalf of the Susquehanna Corporation, Plaintiff, v. Arch C. SCURLOCK, Arthur W. Sloan, Daniel McBride, Glenn L. Sloane, Keith E. Rumbel and the Susquehanna Corporation, Defendants.

United States District Court, E. D. Virginia, Alexandria Division.

April 6, 1971.

Attorney(s) appearing for the Case

Ewell G. Moore, Jr., Fairfax, Va., Sidney B. Silverman, New York City, for plaintiff.

A. Francis Vitt, Jr., Arlington, Va., for Keith E. Rumbel.

Louis Koutoulakos, Arlington, Va., Cleary, Gottlieb, Steen & Hamilton, New York City, for the Susquehanna Corp.

Edmund D. Campbell, Arlington, Va., Benjamin W. Dulany, Fairfax, Va., Stuyvesant Keith Bearns, Washington, D. C., for Arthur W. Sloan and the Susquehanna Corp.

William W. Koontz, Alexandria, Va., Hale, Russel & Stentzel, New York City, for Arch C. Scurlock and Daniel McBride.

Edmund D. Campbell, Arlington, Va., Courts Oulahan, Washington, D. C., for Glenn L. Sloane.

MEMORANDUM OPINION

OREN R. LEWIS, District Judge.

In this stockholder's derivative suit the plaintiff seeks reimbursement on behalf of The Susquehanna Corporation for short-swing profits which she says were realized by the defendants in violation of Section 16(b) of the Securities Exchange Act of 1934 (15 U.S.C. § 78p).1

The facts are essentially undisputed. Atlantic Research Corporation (ARC) was a public corporation...

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