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The U.S. District Court for the Southern District of New York dismissed a claim brought under Section 16(b) of the Securities and Exchange Act of 1934, finding that the sale and purchase within six months of two different series of common stock traded under different ticker symbols and not otherwise convertible into one another or derivatives of one another did not constitute the “purchase and sale, or any sale and purchase, of any equity security” under Section 16(b) of the Exchange Act
On July 22, the United States Court of Appeals for the District of Columbia Circuit vacated Rule 14a-11 promulgated by the Securities and Exchange Commission
