Legal Opinion
Securities & Exchange Commission v. Harwyn Industries Corp.
District Court, S.D. New York
Decided March 29, 1971No. 70 Civ. 2693PublishedCited by 47 opinions
1Opinion of the Court
MANSFIELD, District Judge.
In this action the Securities and Exchange Commission (“the Commission”) seeks to plug up what some have treated as a loophole in the federal securities laws permitting a company, by “spinning-off” its subsidiary’s shares to the parent’s stockholders without registration, to convert the subsidiary into a public corporation whose unregistered shares would be actively traded on the market. The suit is brought under § 22(a) of the 1933 Securities Act, 15 U.S.C. § 77v(a), and § 27 of the 1934 Securities Exchange Act, 15 U.S.C. § 78aa. The Commission alleges violations of…
2Cases cited17 opinions
- United States v. W. T. Grant Co.Supreme Court of the United States · 1953
- United States v. American Trucking AssociationsSupreme Court of the United States · 1940
- Securities and Exchange Commission v. W. J. Howey Co.Supreme Court of the United States · 1946
- Hecht Co. v. BowlesSupreme Court of the United States · 1944
- Securities & Exchange Commission v. Ralston Purina Co.Supreme Court of the United States · 1953
12 more not listed; retrieve them via the Exa API.
3Cited by47 opinions
- Securities and Exchange Commission v. Manor Nursing Centers, Inc.Court of Appeals for the Second Circuit · 1972
- International Controls Corp. v. VescoCourt of Appeals for the Second Circuit · 1974
- Fed. Sec. L. Rep. P 94,724 Securities and Exchange Commission v. Continental Commodities CorporationCourt of Appeals for the Fifth Circuit · 1974
- John Daniel v. International Brotherhood of Teamsters, Chauffeurs, Warehousemen and Helpers of AmericaCourt of Appeals for the Seventh Circuit · 1977
- Wellman v. DickinsonDistrict Court, S.D. New York · 1979
42 more not listed; retrieve them via the Exa API.