Legal Opinion
Securities & Exchange Commission v. Wencke
Court of Appeals for the Ninth Circuit
Decided June 9, 1980No. 78-1395PublishedCited by 2 opinions
1Opinion of the Court
KENNEDY, Circuit Judge:
A district court may appoint a receiver in a securities fraud action brought by the Securities and Exchange Commission (SEC). The somewhat novel question presented by this appeal is whether a district court may also issue a stay, effective against nonparties and without prior notice to them, prohibiting “all investors, creditors, and other persons” from “[cjommencing, prosecuting, continuing or enforcing any suit” against the receivership entities, except by leave of the court. Resolution of this case requires consideration of what securities law policies are furthered…
2Cases cited38 opinions
- Colorado River Water Conservation District v. United StatesSupreme Court of the United States · 1976
- Mills v. Electric Auto-Lite Co.Supreme Court of the United States · 1970
- J. I. Case Co. v. BorakSupreme Court of the United States · 1964
- Hecht Co. v. BowlesSupreme Court of the United States · 1944
- Kline v. Burke Construction Co.Supreme Court of the United States · 1922
33 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Fed. Sec. L. Rep. P 97,533 Securities and Exchange Commission v. Walter Wencke Superior Motels, Inc. v. R. N. Gould and Securities and Exchange Commission, Receiver and Real Party in Interest AndCourt of Appeals for the Ninth Circuit · 1980
- Ralph Schauss v. Metals Depository Corporation, Michael Wagner, Equity Receiver of U.S. Metals Depository Corporation, First National Bank of Euless v. Ralph Schauss v. Michael Wagner, Etc.Court of Appeals for the First Circuit · 1985