Judge Says High Court Bars $17M Eminence Short-Swing Suit

Law360, New York (March 2, 2017, 2:02 PM EST) -- A Manhattan federal judge has ditched a suit brought by a Men's Wearhouse investor claiming that Eminence Capital LLC reaped an illegal $17 million insider profit in 2015 by selling its shares in the retailer, saying Wednesday the investor failed to overcome U.S. Supreme Court guidance supporting dismissal.

Investor Larry Morrison has claimed that Eminence should disgorge more than $17 million it made selling stock at higher prices within six months of a 2014 share purchase in Men’s Wearhouse, saying the activist hedge fund was already...
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