Sixth Circuit Affirms Dismissal of Pro Se Complaint in Tax Withholding Case

The Sixth Circuit Court of Appeals had affirmed the district court’s dismissal of the complaint filed in Olagues v. Timken, which I discussed in an earlier blog, on the ground that an individual shareholder may not pursue an action under Section 16(b) pro se, and instead must be represented by counsel. The Timken case is one of the many initiated by a small group of shareholders who contend that Rule 16b-3(e) does not exempt elective (as opposed to automatic) tax withholding transactions.