Dreiling v. American Express Company

458 F.3d 942 Thomas R. DREILING, on behalf of InfoSpace Inc., Plaintiff-Appellant, v. AMERICAN EXPRESS COMPANY, a New York corporation, including its divisions and subsidiaries, Defendant, and InfoSpace, Inc., a Delaware Corporation; American Express Travel Related Services Company Inc., Defendants-Appellees. No. 04-35715. United States Court of Appeals, Ninth Circuit. Argued and Submitted May 3, 2006. Filed August 14, 2006. Jonathan P. Meier and Richard E. Spoonemore, Sirianni Youtz Meier & Spoonemore, Seattle, WA, for the plaintiff-appellant. Jason C. Vigna and Robert E. Zimet, Skadden, Arps, Slate, Meagher & Flom, LLP, New York, NY, for the defendant-appellee. Allan A. Capute, Securities and Exchange Commission, Washington, D.C., for amicus curiae. Appeal from the United States District Court for the Western District of Washington; Thomas S. Zilly, District Judge, Presiding. D.C. No. CV-03-03740-TSZ. Before STEPHEN REINHARDT, M. MARGARET McKEOWN, and RICHARD R. CLIFTON, Circuit Judges. McKEOWN, Circuit Judge. 1 Section 16(b) of the Exchange Act bars corporate insiders, such as directors, from profiting on short-swing trades, defined as the purchase and sale of stock…