Mercer v. Gupta, No. 1:2011cv03828 - Document 29 (S.D.N.Y. 2011)
Court Description: ORDER for reasons that will be explained in a forthcoming written opinion, the Complaint will be dismissed, with prejudice. Final judgment, however, will not be filed until the Court renders its written opinion referenced explaining the reasons for this ruling. (Signed by Judge Jed S. Rakoff on 12/23/2011) (cd) (Entered: 12/27/2011)
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Mercer v. Gupta Doc. 29 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK x JAMES MERCER, Plaintiff, -v 11 Civ. 3828(JSR) RAJAT GUPTA, ORDER Defendant. x JED S. RAKOFF, U.S.D.J. Pending before the Court is the motion of defendant Rajat Gupta to dismiss the claim of plaintiff James Mercer for disgorgement of short-swing trading profits under Section 16(b) of the Securities Exchange Act of 1934. 15 U.S.C. ยง 78p(b). After careful consideration of the parties' briefs and oral arguments, the Court, for reasons that will be explained in a forthcoming written opinion, hereby grants the motion in its entirety. Accordingly, the Complaint will be dismissed, with prejudice. Final judgment, however, will not be filed until the Court renders its written opinion referenced explaining the reasons for this ruling. SO ORDERED. Dated: New York, New York December 23, 2011 Dockets.Justia.com
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