Securities and Exchange Commission v. Ormont Drug & Chemical Company, Inc.
Court of Appeals for the D.C. Circuit
1Opinion of the Court
TAMM, Circuit Judge:
This appeal arises from the district court’s holding appellant, Ormont Drug and Chemical Company, Incorporated (Ormont), in contempt of an injunctive order. Because we find that the district court did not properly consider Ormont’s assertion that compliance with the injunction was impossible, we vacate the contempt order and remand for proceedings consistent with this opinion.
I. Background
On June 17, 1982, the Securities and Exchange Commission (Commission) filed a complaint charging that Ormont had violated the reporting requirements of the Securities Exchange Act of…
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