Officer and director of public company prevails in obtaining "safe harbor" under Securities Exchange Act.

We successfully defended a prominent officer and director of a public company in an action involving an attempted application of Section 16(b) of the Securities Exchange Act of 1934 to recover alleged short-swing profits. We applied a first of its kind interpretation of the “safe harbor” provision under Section 16(b). The District Court ruled that our client was entitled to the “safe harbor” and granted our client’s motion for summary judgment. Feder v. Frost, 474 F.Supp.2d 520 (S.D.N.Y. 2007).