In a shareholder derivative action seeking disgorgement of profits from AOL corporation's sale of its InfoSpace stock, summary judgment for defendant-AOL is affirmed where the relationship between defendant and InfoSpace did not create a beneficial stock ownership situation such that defendant was an insider.
Argued and Submitted May 7, 2009
Filed August 19, 2009
Opinion by Judge Smith
R. Hackney Wiegmann, Williams & Connolly LLP, Washington, DC