Securities and Exchange Commission v. American Capital Investments, Inc. Stephen J. Murphy Kenneth A. Sorensen Richard D. Otto Adfin Corporation Aci Investors Protective Association, and Approximately 127 Aci (American Capital Investments) Investors, William Shaw v. Richard G. Shaffer, Court Appointed Receiver For

99 F.3d 1146

NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel.

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,

v.

AMERICAN CAPITAL INVESTMENTS, INC.; Stephen J. Murphy;

Kenneth A. Sorensen; Richard D. Otto; Adfin Corporation;

ACI Investors Protective Association, and approximately 127

ACI (American Capital Investments) Investors, Defendants.

William SHAW, Appellant,

v.

Richard G. SHAFFER, Court…