Securities & Exchange Commission v. S & P National Corp.

OPINION

THOMAS F. MURPHY, District Judge.

I

The case is now before the court upon an application for judicial approval of a Plan of Settlement and Reorganization (“the Plan”), and for an order that it be consummated. The Plan is intended to resolve the welter of issues between the plaintiff Securities and Exchange Commission (“the Commission”), the corporate defendants (“S & P”, “Smith-Palmer” and “Southwest”), and the individual defendants (“Milton” and “Still”). It is also intended to effect a settlement of a projected lawsuit by the trustee in behalf of the corporate defendants and their…