Fed. Sec. L. Rep. P 95,244 James J. Spilker v. Shayne Laboratories, Inc., a Corporation

TUTTLE, Circuit Judge:

The only issue in this appeal is a simple question of law: Does the fact that the defendants made two intrastate telephone calls connected to a securities transaction satisfy the jurisdictional requirement of “use of any means or instrumentality of interstate commerce” in § 10 of the Securities Exchange Act of 1934, 15 U.S.C. § 78j, and Securities and Exchange Commission Rule 10b — 5, 17 C.F.R. 240.10b — 5? The trial court, apparently relying on this Court’s brief per curiam opinion in Burke v. Triple A. Machine Shop, Inc., 438 F.2d 978 (9th Cir. 1971), held that it did…