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TABLE 23.-Cases in which the Commission participated as intervenor or as amicus curiae, pending during the fiscal year ended June 30, 1963
Name of case
U.S. District Court,
Date of entry
Nature and status of case
American Trailer Rentals Colorado.
Mar, 22, 1963 | Petition for leave to intervene in proceedings for an arrangement under Chapter XI of the Bankruptcy
Act to show violations of Section 17(a) of the 1933 Act, filed. Referee in Bankruptcy entered order
was fraudulently induced by Albert to transfer its stock or other assets in connection with transactions
complaint served. Pending.
Jan. 1963 This is an action under Sec. 16(b) of the 1934 Act seeking recovery of "short swing" profits. Brief of
SEC amicus curiae filed in support of a reversal of judgment of the district court. Opinion rendered
Jan. 4, 1963 The above action was brought by a stockholder of J. I. Case Co., alleging that the merger between said
company and American Tractor Corp. followed false and misleading proxy solicitation in violation of
complaint and remanding case to lower court. Pending.
enforceable under Secs 5 and 14 of the 1933 Act and Sec. 16(e) of the 1934 Act. Motion by defendant for
Opinion rendered Dec. 19, 1962, denying summary judgment. Closed.
seeking to secure a precedent to investors in construing and enforcing Sec. 10(b). Motion by SEC for
leave to paticipate as amicus curiae filed June 25, 1963. Pending.
Plaintiff demands recovery. Commission moved to participate as amicus. Commission memorandum
An action based upon alleged violations of Sec. 16(b) of the 1934 Act in which recovery is sought of profits
realized by an "insider" through "short swing transactions in securities. Memorandum of Commission amicus curiae served Dec. 8, 1962. Opinion rendered granting defendants' motion for summary
judgment. Appeal filed May 22, 1963. Pending.
void under Sec. 47(b) of the Investment Company Act of 1910, because it had extended over a longer
participation on Mar. 30, 1952. Order Apr. 25, 1952, appointing Commission an amicus curiae. Pend-
amicus curiae served. Briefs and reply briefs filed. Commission's reply brief May 20, 1961, filed
right and duty of registered stock
ing judgment of Court of Appeals and remanding cause May 20, 1963. Pending.
"short swing' profits. Memorandum of the Commission amicus curiae served Nov. 27, 1961. Opinion
of the district court entered Dec. 27, 1961. Closed.
arguments respecting the interpretation of the Investment Company Act of 1940. Appeals filed Apr. 9,
Table 24.—Proceedings under the Bankruptcy Act pending during the fiscal year
ended June 30, 1963, 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
American Trailer Rentals Co., Notice of appeal filed by SEC from the order entered May 20, 1963. debtor; In Re Securities and Ex denying the motion of SEC to dismiss the debtor's petition for change Commission, appellants relief under Chapter XI of the Bankruptcy Act on the ground that (10th Circuit).
any proceeding for the rehabilitation of the debtor under the Bankruptcy Act should have been brought under Chapter X of that Act.
Pending. Colorado Trust Deed Funds, Inc., Notice of appeal filed by Colorado Trust Deed Funds, Inc., from an
appellant v. James Thomas, III, order entered Nov. 6, 1961, dismissing its petition for reorganization Boyd Thomas and Securities and under Chapter X of the Bankruptcy Act. Briefs filed and hearing Exchange Commission, appellees set for July
27, 1962. Opinion
rendered Nov. 19, 1962, affirming the (10th Circuit).
judgment of the district court. Closed. Crumpton Builders, Inc., debtor; Notice of appeal filed by SEC from that portion of the order entered
In Re Securities and Exchange May 14, 1963, denying the motion of SEC to dismiss the proceedings Commission appellants (5th Cir under Chapter XI of the Bankruptcy Act. Pending. cuit). Flora Sun Corp., debtor; (Francis Appeal from order of Apr. 25, 1962, approving a petition for reorgani. J. Corr & Dorothy J. Corr) ap zation under Chapter X of the Bankruptcy Act. Commission filed pellants (CA-5).
a brief. Court of appeals decision handed down affirming the district court's order approving the petition for reorganization.
Closed. Florida Southern Corp., debtor; Appeal filed by W. D. York, for reversal of district court order entered W. D. York, appellant (5th Cir July 9, 1962, finding that the debtor's petition for reorganization was cuit) USSC.
filed in good faith. Order of CA-5 entered Nov. 28, 1962, affirming the order of the district court. Petition for rehearing filled and denied Dec. 27, 1962. Petition for writ of certiorari filed Feb. 7. 1963. Brief for SEC in opposition Mar. 1963. Certiorari denied by
supreme court. Closed. GFE Industries, Inc., debtor; Les-Notice of appeal filed by Lester M. Entin and Joseph Waters dba
ter M. Entin & Joseph Waters, Lester M. Entin Associates, from the “Order Authorizing Sale" dba Lester M. Entin Associates, entered Mar. 1, 1963 and from the "Recommended Order Authorizappellants y. John C. Stevens, ing Sale of Private Brands and Order Granting Stay" filed Dec. 17, Trustee and Securities and Ex 1962, and from the "Order Authorizing Sale of Private Brands change Commission.
Division of Debtor" entered Mar. 4, 1963. Pending. Grayson-Robinson Stores, Inc., This appeal involves the question whether a proceeding for an arrange
debtor; Securities and Exchange ment with its creditors by Grayson-Robinson Stores, Inc., pursuant Commission, appellants (2d Cir. to Chapter XI of the Bankruptcy Act should be dismissed on the cuit).
ground that any proceeding for the rehabilitation of the debtor under the Bankruptcy Act should have been brought under Chapter X of that Act. Opinion rendered affirming district court's
denial of motion. Petition for rehearing denied, Closed. Inland Gas Corporation, et al., Appeal from order of Apr. 8, 1961, limiting the recovery of expenses debtors; Green Committee, et al., by the Green Committee. Brief and appendix of appellee filled appellants (6th Circuit).
Nov. 2, 1961. Brief of the Commission filed Nov. 1961. Oral argument held Mar. 26, 1962. Decision rendered Oct. 1962, affirm
ing the judgment of the district court. Closed. Los Angeles Trust Deed & Mort- Notice of appeal filed by Commission from order of the district court
gage Exchange, debtor; Se. denying motion to dismiss Chapter XI proceedings under an curities and Exchange Commis amended petition to comply with provisions of Chapter X. Appeal sion, appellants (9th Circuit). dismissed. Closed. Muskegon Motor Specialties Co., This action arises out of a question whether or not the district court
debtor; International Union, has discretion to refuse to compel the Trustee of a corporation in United Automobile, Aircraft and reorganization under Chapter X of the Bankruptcy Act to submit Agricultural Implement Workers to arbitration a claim for vacation pay arising out of a previously of America, AFL-CIO, and its expired collective bargaining agreement with a defunct subdivision local 1272, Voluntary Unincor of the debtor corporation. Petition for writ of certiorari filled May porated Associations, appellants 27, 1963. Pending.
(6th Circuit). Scranton Corporation & Hal Roach Appeal filed Mar. 9, 1962, from order of court approving sale of assets Studios, debtors; State of Cali of Hal Roach Studios pursuant to Sec. 116(3) of Chapter X proceed. fornia, appellant (3d Circuit). ings. Stipulation dated Sept. 5, 1962, dismissing appeal since the
matter is moot. Closed. Selected Investments Corp., Appeal from order of the district court denying appellant's compen
debtor; B. H. Carey, appellant sation for legal services and reimbursement of expenses as Attorney (10th Circuit).
for debtor. Motion for dismissal of appeal fled by appellant due to satisfactory settlement negotiations. Commission's objections filed Nov. 1, 1981. Order Nov. 20, 1961, remanding case to District Court. Order entered by the district court on June 4, 1962, reaffirming prior order denying compensation to appellant. Appeal on the merits. Court of Appeals affirmed district court's
opinion, May 23, 1963. Olosed. TMT Trailer Ferry, Inc., debtor; Appeal fled July 11, 1962, by the Protective Committee for Inde. The Protective Committee for pendent Stockholders of TMT Trailer Ferry, Inc., from “Opinion Independent stockholders of and Order on Valuation and Insolvency" of the Hon. Emett O. TMT Trailer Ferry, Inc., appel Choate. Appeal taken by Committee from the order confirming lant v. C. Gordon Anderson as the plan of reorganization entered Feb. 14, 1963. Pending. Trustee, appellee (CA-5).
TABLE 24.—Proceedings under the Bankruptcy Act pending during the fiscal year
ended June 30, 1963, in which the Commission participated when district court orders were challenged in appellate courts-Continued
Name of case and U.S. Court of
Nature and status of case
United Star Companies, Inc., et al., | Notice of appeal filed by Commission from that portion of the order
debtors-appellees; In Re Securi. entered on Mar. 22, 1963 denying the motion of the SEC to dismiss ties and Exchange Commission, the proceedings under Chapter XI of the Bankruptcy Act. appellants (5th Circuit).
Pending. Waloc Building Corp., debtor; Appeal filed from the order of the district court entered Feb. 8, 1963,
Hortense Mayer Hirsch, et al., enjoining appellants from "proceeding or continuing in any manner appellants v. Nathan Yorke. with their state action. Commission filed a memorandum in Trustee, et al., appellees (7th support of the motion of certain bondholders to dismiss the appeal Circuit).
May 27, 1963. Pending.
TABLE 25.-A 30-year summary of criminal cases developed by the Commission
fiscal years 1934–1963
defend. Number referred whom which of de Number Number ants as to of these
to De prosecu indict fendants of these of these whom defendpartment 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 2 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. * 32 of these references as to 118 proposed defendants were still being processed by the Department of Justice as of the close of the fiscal year, and also 19 of the prior years references as to 88 proposed
defendants. 1678 of these cases have been completed as to 1 or more defendants. Convictions have been obtained in 572 or 85 percent of such cases. Only 107, or 16 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 73 defendants who died after indictment.
TABLE 26.- A 30-year summary classifying all defendants in criminal cases
developed by the Commission-1934 to June 30, 1963
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 30-year summary of all injunction cases instituted by the Com
mission—1934 to June 30, 1963, by calendar year
1934. 1935. 1936. 1937 1938. 1939. 1940. 1941. 1942. 1943. 1944. 1945. 1946. 1917 1948. 1949. 1950. 1951 1952 1953. 1954. 1955 1956. 1957. 1958. 1959 1960. 1961 1962 1963 (to June 30).
21 15 20 15 24 26 17
67 103 41 59 54 122 192 408 206 270 368 403 205
23 22 19 42 32 51 71
71 58 99 84 99 58
158 179 222 272