« AnteriorContinuar »
TABLE 23.-Oases in which the Commission participated as intervenor or as amicus curiae, pending during the fscal year ended
June 30, 1962
Feb. 21, 1961 Action under Sec. 20(c) and 10(b) of the 1934 Act, and Rule 10b-5 thereunder, alleging that the plaintiff
was fraudulently induced by Albert to transfer its stock or other assets in connection with transactions
complaint, served. Pending.
realized by a partnership from trading in securities of a corporation of which a partner was a director.
in Dec. 1961. Decision rendered affirming the order of CA-2. Closed.
in connection with petition for rehearing since there is
petition for rehearing of opinion Jan. 13, 1961, reversing district court order and denying Commission
of CA-8 and remanding case to district court. Closed.
Dec. 12, 1960, as amicus curiae served. Brief and reply briefs filed. Commission's supplemental memo-
fendants' application for leave to appeal granted May 3, 1961, by CA-2. Briefs filed in CA-2. Commis-
for expenses may
district court. Closed.
plaintiff demands recovery. Commission moved to participate as amicus. Commission memorandum
Moses, W.8., et al., v. Fred 5th Circuit.
Mar. 31, 1961 Action on questions relating to various Sections of the 1933 Act. Notice of appeal filed July 23, 1960, Michael, et al.
from the order of the district court entered June 25, 1960, granting appellees recovery of the purchase
interests which interests were allegedly sold in violation of the 1933 Act.
denied Sept. 6, 1961. Closed
was void under Sec. 47(b) of the Investment Company Act of 1940, because it had extended over a longer
period than is permitted under Sec. 15(b) of that Act. Motion filed by Commission for amicus curiae
Mar. 28, 1961 Action under Sec. 10 of the 1934 Act, as implemented by Rule 105-5. Commission's brief Mar. 28, 1961,
amicus curiae served. Briefs and reply briefs filed. Commission's reply brief May 20, 1961, filed.
order of district court. Pending.
Nov. 20, 1961 Action in which the Commission appears as amicus curiae to insure the right and duty of registered stock
exchanges to discipline their members for violations of the Securities Exchange Act of 1934. Memoran-
writ of certiorari filed May 31, 1962, from the order of Apr. 4, 1962. Pending.
Nov. 27, 1961 An action based upon alleged violations of Sec. 16(b) and (c) of the 1934 Act, in which recovery is sought
of "short swing profits realized in transactions in securities of a company and individual. Memoran-
curiae filed Mar. 23, 1962. Affirmed on appeal susbequent to end of the fiscal year. Pending.
This is an action which the Commission appears as amicus curiae to set forth its disagreement with certain
Apr. 30, 1962 arguments respecting the interpretation of the Investment Company Act of 1940. Appeals filed Apr. 9,
1962, by plaintiffs-appellants from the order of the district court seeking reversal of the denial of money
fees. Brief of the Commission amicus curiae filed May 15, 1962. Pending.
randum of the Commission amicus curiae filed July 17, 1961. Judgment for plaintiffs' entered on
March 9, 1962. Closed.
Regulation T thereunder. Motion to dismiss filed by defendant. Notice and motion for leave to
Case settled. Closed.
Apr. 20, 1962 This action is one brought by the plaintiffs derivatively and representatively as stockholders of Investors
Mutual, Inc., a registered Investment Company, to enjoin the performance of the investment advisory
TABLE 24.—Reorganization cases under Chapter X of the Bankruptcy Act pend
ing during the fiscal year ended June 30, 1962, in which the Commission participated when district court orders were challenged in appellate courts
Name of case and U.S. Court of
Nature and status of case
Coffeyville Loan and Investment Appeal from order of Sept. 20, 1961, denying certain portions of ap
Co., Inc., debtor; Harlow King. pellant's claim against debtor. Commission's response in opposi-
Appellant vs. James Thomas. order entered Nov. 6, 1961, dismissing its petition for reorganization
Lewis J. Ruskin, appellant (2d Decision rendered affirming the order denying an additional Circuit).
allowance for services and expenses of the collateral trustee's
application for certiorari. Closed. Inland Gas Corp., et al., debtors; Appeal from order of Apr. 8, 1961, limiting the recovery of expenses
Green Committee, et al., appel by the Green Committee. Brief and appendix of appellee filed lants (6th Circuit).
Nov. 2. 1961. Brief of the Commission filed Nov. 9, 1961. Oral
argument held Mar. 26, 1962. Decision pending. Los Angeles Trust Deed & Mort- Notice of appeal filed by Commission from order of the district
gage Exchange, debtor; Securities court denying motion to dismiss Chapter XI proceedings under an and Exchange Commission, ap amended petition to comply with provisions of Chapter X. pellants (9th Circuit).
Pending. Parker Petroleum Co. Inc. (Occi- Petition for writ of mandamus and/or prohibition filed by Occidental
dental Petroleum Corp. v. Hon Petroleum Corporation for an order disqualifying Judge Chandler orable Stephen S. Chandler) from proceedings on grounds of personal bias and prejudice. Peti(10th Circuit).
tion for leave to amend and supplement petition for writ of mandamus filed Mar. 12, 1962, and granted Mar. 13, 1962. Memorandum of the Commission in opposition filed Apr. 9, 1962. Opinion per curiam granting petition Apr. 20, 1962. Petition for rehearing filed
and denied June 1, 1962. Closed. Selected Investments Corp.,
debtor; Appeal from order of the district court denying appellant's compensaB. H. Carey, appellant (10th tion for legal services and reimbursement of expenses as attorney Circuit).
for debtor. Motion for dismissal of appeal filed by appellant due to satisfactory settlement negotiations. Commission's objections fled Nov. 1, 1961. Order Nov. 20, 1961, remanding case to district
court. Pending. TMT Trailer Ferry, Inc., debtor; Appeal from order of Mar. 6, 1959, confirming trustee's plan of reor
Protective Committee for Inde ganization and various other orders dated Aug. 12, 1960, Aug. 15. pendent Stockholders, Arthur H. 1960. Sept. 30, 1960, Dec. 22, 1960, Feb. 6, 1961, and Apr. 27, 1961. Shaffer. M. James Spitzer, ap CA-5 on Sept. 9, 1960, denied motion of trustee to dismiss appeal. pellants (5th Circuit) USSC. Order Oct. 4, 1960, consolidating appeals. Commission's telegram
to the Court Jan. 25. 1961, in opposition to appellants' motion to file petition for writ of prohibition and/or mandamus. CA-5 Jan. 26, 1961, denied motion for leave to file petition. Commission's brief as appellee May 15, 1961, stating that the order of the District Court entered Aug. 15, 1960, vacating the order of confirmation of Mar. 6. 1959, should be affirmed or the order of confirmation of the District Court entered Mar. 6. 1959, should be reversed, filed. Briefs and reply briefs filed. Opinion July 7, 1961, by CA-5 affirming the order of the distrcit court vacating a previous order confirming a plan of reorganization under Chapter Å. Petition for rehearing filed July 7, 1961, and denied Aug. 18. 1961. Motion by appellants to stay issuance of mandate and denied Sept. 19, 1961. Petition for writ of
certiorari filed Nov. 13, 1961, and denied Jan. 8. 1962. Closed. Scranton Corp. and Hal Roach Appeal filed March 9. 1962, from order of Court approving sale of Studios, debtors; State of Cali assets of Hal Roach Studios pursuant to Sec. 116(3) of Chapter X fornia, appellant (3d Circuit). Proceedings. Pending.
TABLE 25.-A 29-year summary of criminal cases developed by the Commission
fiscal years 1934-1962
defend- Number referred whom which of de Number Number ants as to of these
to De prosecu indict fendants of these of these whom defendFiscal year
partment tion was ments indicted defend defend- proceed- ants as to of Justice recom
were in such ants con ants ac- ings were whom in each mended obtained
victed quitted dismissed cases are year in each by U.S.
on motion pending? year attorneys
of U.S. attorneys
1 The number of defendants in a case is sometimes increased by the Department of Justice over the number against whom prosecution was recommended by the Commission. Also more than 1 indictment may result from a single reference.
. See table 13 for breakdown of pending cases.
3 32 of these references as to 121 proposed defendants were still being processed by the Department of Justice as of the close of the fiscal year, and also 8 of the prior years references as to 74 proposed defendants.
4 638 of these cases have been completed as to 1 or more defendants. Convictions have been obtained in 548 or 86 percent of such cases. Only 91, or 14 percent, of such cases have resulted in acquittals or dismissals as to all defendants, this includes numerous cases in which indictments were dismissed without trial because of the death of defendants or for other administrative reasons. See note 5, infra.
* Includes 72 defendants who died after indictment. TABLE 26.-A 29-year summary classifying all defendants in criminal cases
developed by the Commission-1934 to June 30, 1962
1 Includes persons registered at or prior to time of indictment.
- The persons referred to in this column, while not engaged in a general business in securities, were almost without exception prosecuted for violations of law involving securities transactions.
TABLE 27.–A 29-year summary of all injunction cases instituted by the Commis
sion, 1934 to June 30, 1962, by calendar year
1 These columns show disposition of cases by year of disposition and do not necessarily reflect the disposition of the cases shown as having been instituted in the same years.
Includes 26 cases which were counted twice in this column because injunctions against different defend. ants in the same cases were granted in different years.
: Includes 94 defendants in 13 cases in which injunctions have been obtained as to 36 codefendants.
* Includes (a) actions dismissed (as to 611 defendants); (6) actions discontinued, abated, vacated, aban. doned, stipulated, or settled (as to 55 defendants); (c) actions in which judgment was denied (as to 12 defendants); (d) actions in which prosecution was stayed on stipulation to discontinue misconduct charged (as to 4 defendants).