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TYCO LABORATORIES, INC. v. CUTLER-HAMMER, INC.

No. 78 Civ. 3283.

490 F.Supp. 1 (1980)

TYCO LABORATORIES, INC. and AMBG Corporation, Plaintiffs, v. CUTLER-HAMMER, INC., Defendant.

United States District Court, S. D. New York.

April 29, 1980.

Attorney(s) appearing for the Case

Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for plaintiffs; Robert S. Smith, New York City, of counsel.

Esanu, Katsky & Korins, New York City, for defendant; David L. Katsky, New York City, of counsel.

OPINION

ROBERT J. WARD, District Judge.

This is an action for a declaratory judgment pursuant to 28 U.S.C. § 2201. Plaintiffs, Tyco Laboratories, Inc. and its whollyowned subsidiary, AMBG Corp., (collectively "Tyco") seek a declaration that they are not liable under section 16(b) of the Securities Exchange Act of 1934 (the "Act"), 15 U.S.C. § 78p(b), for "short swing" profits realized on a sale of defendant Cutler-Hammer, Inc's ("C-H") common stock...

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