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FEDER EX REL IVAX CORP. v. FROST

No. 98 CIV. 4744(RO).

474 F.Supp.2d 520 (2007)

Mark FEDER, derivatively on behalf of IVAX CORPORATION, Plaintiff, v. Philip FROST and Frost-Nevada Limited Partnership, Defendants.

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

February 15, 2007.

Attorney(s) appearing for the Case

Jeffrey S. Abraham, Abraham Fruchter & Twersky LLP, New York City, for Plaintiff Mark Feder.

Gary W. Kubek, Debevoise & Plimpton LLP, New York City, and Peter Homer, Homer Bonner, P.A., Miami, FL, for defendants Philip Frost and Frost-Nevada Limited Partnership.

OPINION & ORDER

OWEN, District Judge.

Section 16(b) of the Securities Exchange Act of 1934 provides in relevant part:

For the purpose of preventing the unfair use of, information which may have been obtained by such beneficial owner, director, or officer by reason of his relationship to the issuer, any profit realized by him from any purchase and sale, or any sale and purchase, of any equity security of such issuer . . . within any period...

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