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SECURITIES & EXCHANGE COMM. v. GLASS MARINE INDUS.

Civ. A. No. 2276.

199 F.Supp. 18 (1961)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. GLASS MARINE INDUSTRIES, INC., a Delaware corporation, Defendant.

United States District Court D. Delaware.

October 24, 1961.

Attorney(s) appearing for the Case

Thomas B. Hart, John J. Enright, and John W. Vogel, Chicago, Ill., and John Frohling, Washington, D. C., for Securities and Exchange Commission.

H. James Conaway, Jr., Morford, Young & Conaway, Wilmington, Del., and Lawrence A. Coles, Jr., Thompson, Raymond, Mayer, Jenner & Bloomstein, Chicago, Ill., for defendant.

Hayden Leason, intervenor, pro se.

Arthur J. Sullivan, Morris, James, Hitchens & Williams, Wilmington, Del., and Saul S. Nevins, Levy & Nevins, New York City, for special intervenor, Lancer Industries. Inc.

LEAHY, Senior District Judge.

The Securities and Exchange Commission brought this action under § 20(b) of the Securities Act of 1933, 15 U.S.C.A. § 77t(b) and § 21(e) of the Securities Exchange Act of 1934, 15 U.S.C.A. § 78u (e), and charges Glass Marine Industries, Inc., with certain violations in connection with the public offering on July 6, 1960 of the defendant's securities. The SEC seeks injunctive relief against defendant and the appointment...

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