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S.E.C. v. HOWEY CO.

No. 843.

328 U.S. 293 (1946)

SECURITIES & EXCHANGE COMMISSION v. W.J. HOWEY CO. ET AL.

Supreme Court of United States.

Decided May 27, 1946.

Attorney(s) appearing for the Case

Roger S. Foster argued the cause for petitioner. With him on the brief were Solicitor General McGrath, Robert S. Rubin and Alexander Cohen.

C.E. Duncan and George C. Bedell argued the cause and filed a brief for respondents.

MR. JUSTICE MURPHY delivered the opinion of the Court.

This case involves the application of § 2 (1) of the Securities Act of 19331 to an offering of units of a citrus grove development coupled with a contract for cultivating, marketing and remitting the net proceeds to the investor.

The Securities and Exchange Commission instituted this action to restrain the respondents from using the mails and instrumentalities of interstate...

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