Article
Second Circuit: Rejects Novel Theory Of Liability For Short-Swing Profits Under Section 16(b)
On May 23, 2025, the Second Circuit affirmed the dismissal of two lawsuits1 brought by a shareholder seeking to impose Section 16(b)2 liability by pairing sales of outstanding shares made by controlling shareholders with share repurchases by corporations they control.
Simpson Thacher & Bartlett