Long Island Lighting Company v. Barbash
United States Court of Appeals for the Second Circuit
779 F.2d 793 (2d Cir. 1985)
Relevant factsFree
Matthews launched a proxy contest for LILCO (plaintiff), and his supporters published a newspaper ad accusing LILCO of mismanagement and urging public acquisition of the utility, without mentioning proxies directly; LILCO argued the ad was an unlawful, unfiled proxy solicitation and sought an injunction. The district court, after abbreviated discovery, held the ad wasn't a proxy solicitation because it appeared in a general publication only indirectly affecting the proxy contest.
IssueFree
Whether Securities and Exchange Commission proxy rules apply to communications that appear in general publications that are indirectly addressed to shareholders.
Related cases
Hanson Trust PLC v. SCM Corporation774 F.2d 47 (1985)Donovan v. DialAmerica Marketing, Inc.757 F.2d 1376 (3d Cir. 1985)Landreth Timber Company v. Landreth471 U.S. 681 (1985)Hospital Corporation of America106 F.T.C. 361 (1985)Arceneaux v. Merrill Lynch, Pierce, Fenner & Smith, Inc.767 F.2d 1498 (11th Cir. 1985)