Securities & Exchange Commission v. Federal Shopping Way, Inc., a Washington Corporation, and J. R. Cissna

On September 13, 1967, two months prior to the filing of the involuntary Chapter X proceedings involved in Federal Shopping Way, Inc., 433 F.2d 144 (9th Cir., September 28, 1970), the Securities and Exchange Commission filed a complaint charging appellants, Federal Shopping Way, Inc. and its chief executive officer, J. R. Cissna, with violating the antifraud provisions of the Securities Act of 1933. The charges grew out of the sale of fractional undivided interests in land known as “Recre-Plex,” located adjacent to the shopping center in Federal Way, Washington. The complaint sought a…