Lownsbury v. Securities & Exchange Commission

GOODRICH, Circuit Judge.

This case arises upon the motion of the Securities and Exchange Commission to dismiss the petition of certain stockholders of The Commonwealth & Southern Corporation for review of present orders1 of the Commission, respondents, and to dismiss a motion, also made by the same petitioners, for a stay of all proceedings, pending review by this Court. The controversy centers upon interpretation of two sections of the Public Utility Holding Company Act of 19352 in relation to court review of the corporation’s reorganization plan.

The primary question involved is whether this…