Securities and Exchange Commission, Plaintiff-Appellant-Cross-Appellee v. Christopher L. Lowe, Defendants-Appellees-Cross-Appellants

I interpret the majority opinions as commanding the district court, without balancing the equities, to impose an injunction upon appellee Lowe and his affiliates which, at best, will be illusory and unenforceable, and at worst, constitutes a prior judicial restraint upon the publication of regularly issued journals of fact and opinion, “investment newsletters,” therein described. Because I regard this prior restraint on publication as inappropriate; neither constitutional in light of the First Amendment; nor required by the Investment Advisers Act of 1940 (“the Act”); nor justified by our…