Lohf v. Casey

SETH, Circuit Judge.

This is an appeal by plaintiff, as trustee of a bankrupt brokerage firm, from an order dismissing the complaint for failure to state a claim upon which relief can be granted. The complaint, by the trustee of a broker who was registered as such under section 15(b) of the Securities Act of 1934 [15 U.S.C. § 78o(b)], sought to require the defendants-appellees to take the action contemplated under the Securities Investor Protection Act of 1970 [15 U.S.C.A. § 78aaa] for the protection of customers of a broker who is in financial difficulty. The action thus involves the…