We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Appeals Court Affirms Case Over Short-Swing Rules

Law360 (October 2, 2008, 12:00 AM EDT) -- An appeals court has affirmed a lower court's finding that National Semiconductor Corp. and Sterling Holding Company LLC do not have to disgorge short-swing profits because of two separate U.S. Securities and Exchange Commission rules.

In a ruling Wednesday, a three-judge panel of the U.S. Court of Appeals for the Third Circuit affirmed a lower court's decision to grant summary judgment to the companies in a shareholder derivative suit brought by Mark Levy on behalf of Fairchild Semiconductor International Inc.

The appellate court had previously considered...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.