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KERN COUNTY LAND CO. v. OCCIDENTAL PETROLEUM CORP.

No. 71-1059.

411 U.S. 582 (1973)

93 S.Ct. 1736

36 L.Ed.2d 503

KERN COUNTY LAND CO. v. OCCIDENTAL PETROLEUM CORP.

Supreme Court of United States.

Decided May 7, 1973.

Attorney(s) appearing for the Case

David R. Hyde argued the cause for petitioner. With him on the briefs were F. Arnold Daum, William E. Hegarty, and Immanuel Kohn.

Whitney North Seymour argued the cause for respondent. With him on the brief were Louis Nizer, Paul Martinson, and Bernhardt K. Wruble.

MR. JUSTICE WHITE delivered the opinion of the Court.

Section 16 (b) of the Securities Exchange Act of 1934, 48 Stat. 896, 15 U. S. C. § 78p (b),1 provides that officers, directors, and holders of more than 10% of the listed stock of any company shall be liable to the company for any profits realized from any purchase and sale or sale and purchase of such stock occurring within a period of...

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