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SECURITIES AND EXCHANGE COMMISSION v. PAYNE

35 F.Supp. 873 (1940)

SECURITIES AND EXCHANGE COMMISSION v. PAYNE.

District Court, S. D. New York.

November 15, 1940.

Attorney(s) appearing for the Case

Chester T. Lane and Christopher M. Jenks, both of Washington, D. C., John H. Kelley, of Hoboken, N. J., and John J. Prendergast, of New York City, for plaintiff.

James G. Mitchell, of New York City, for defendant.

CONGER, District Judge.

This is a motion by the plaintiff for summary judgment pursuant to Rule 56, Federal Rules of Civil Procedure, 28 U.S.C.A. following section 723c. The plaintiff instituted the within civil action pursuant to Section 20(b) of the Securities Act of 1933, as amended (48 Stat. 74, 15 U.S.C.A. § 77a et seq.), for an injunction restraining the defendant from further violation of Section 5 (a) of that Act.

The sole question is whether...

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