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Settling Section 16(b) Short Swing Claims: Who Gets a Seat at the Table? | Cohen & Gresser LLP

In an opinion this month in Revive Investing LLC v. FBC Holdings S.A.R.L., Magistrate Judge Gorenstein of the Southern District of New York recommended the grant of summary judgment to the defendant in a Section 16(b) “short-swing profit” action after finding that a prior settlement agreement between the defendant and different plaintiffs was valid and contained a release that precluded the claim at issue. Although Judge Gorenstein rejected the defendant’s argument that only a minimal st...
New York United States Miriam Tauber Daniel Doherty David Lopez Exchange Commission

Donegal farmer not entitled to outstanding €1m on €4m land sale contract

A farmer who sold lands in Co Donegal at a “remarkable” €204,000 an acre at the height of the property boom is not entitled to an order requiring a property developer to pay some €1m outstanding on a €4m land sale contract, the Supreme Court has ruled. In a judgment on Friday addressing significant contract law issues, the five judges dismissed John Gibbons’ appeal concerning a 2006 land sale contract. Mr Justice John MacMenamin said he had “some sympathy” for Mr Gibbons but tha...
Daniel Doherty Justice Mcmenamin Supreme Court Investments Ltd Law Society High Court

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