Securities and Exchange Commission v. MacOn

SYMES, District Judge.

This suit brought under the Securities and Exchange Commission Act of 1933, particularly Section 17, 15 U.S.C.A. § 77q, is the second tried in this court for violation of that section. It is a new type of action, and I am not satisfied as to the proper method of trying these cases. It is my opinion that the evidence should be strictly limited to pro and con testimony pertinent to the actual allegations set forth in the bill. I have tried to confine it to that. Nevertheless the testimony has coveted a wide field, going into collateral matters that I do not think helpful…