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Business Organizations Keyed to Cox
Diamond v. Oreamuno
Citation:
248 N.E.2d 910 (1969)Facts
MAI is in the business of financing computer installations through sale and lease back arrangements. As a result of a sharp increase by International Business Machine (IBM) of its charges for service, MAI’s expenses for August of 1966 rose considerably and its net earnings declined, a decrease of about 75%. This information was not made public until October of 1966. Prior to the release of the information, however, Oreamuno and Gonzalez sold off a total of 56,500 shares of their MAI stock. The plaintiff alleges, by taking advantage of their securities than they would have had this inside information not been available to them.
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Topic Resources
Topic Outline
Shareholders’ RightsTopic Refresher Course
Breach: Major and MinorTopic Charts & Notes
Parties Chart