Legal Opinion
Securities and Exchange Commission v. Sterling Precision Corporation, and the Equity Corporation
Court of Appeals for the Second Circuit
Decided April 29, 1968No. 31729_1PublishedCited by 25 opinions
1Opinion of the Court
FRIENDLY, Circuit Judge:
The primary issue on this appeal from an order of the District Court for the Southern District of New York granting summary judgment to defendant Sterling Precision Corporation in an injunction action by the SEC is whether Sterling’s redemptions of its bonds and preferred stock were a “purchase” of such securities by Sterling from The Equity Corporation, a registered investment company owning more than 5% of Sterling’s voting securities, within the ban of § 17(a) (2) of the Investment Company Act. We hold they were not.
As a result of transactions ten years earlier, the…
2Cases cited14 opinions
- Skidmore v. Swift & Co.Supreme Court of the United States · 1944
- Tcherepnin v. KnightSupreme Court of the United States · 1967
- Fishgold v. Sullivan Drydock & Repair Corp.Supreme Court of the United States · 1946
- Addison v. Holly Hill Fruit Products, Inc.Supreme Court of the United States · 1944
- Volkswagenwerk Aktiengesellschaft v. Federal Maritime CommissionSupreme Court of the United States · 1968
9 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Harold DRACHMAN and Claire Drachman, Plaintiffs-Appellants, v. Lawrence A. HARVEY Et Al., Defendants-AppelleesCourt of Appeals for the Second Circuit · 1972
- Florence K. Levine, as of the Last Will and Testament of Irving Levine, Deceased v. Seilon, Inc.Court of Appeals for the Second Circuit · 1971
- Comptroller of Treasury v. John C. Louis Co.Court of Appeals of Maryland · 1979
- Enron Creditors Recovery Corp. v. Alfa, S.A.B. De C.V.Court of Appeals for the Second Circuit · 2011
- Williams v. DandridgeDistrict Court, D. Maryland · 1969
20 more not listed; retrieve them via the Exa API.