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INTERCONTINENTAL INDUS., INC. v. AMERICAN STOCK EXCH.

No. 29861.

452 F.2d 935 (1971)

INTERCONTINENTAL INDUSTRIES, INC., Petitioner, v. AMERICAN STOCK EXCHANGE and Securities and Exchange Commission, Respondents.

United States Court of Appeals, Fifth Circuit.

December 20, 1971.

Attorney(s) appearing for the Case

Virgil M. Wheeler, Jr., New Orleans, La., Nathan M. Fuchs, New York City, for petitioner.

George H. MacLean, Gordon L. Nash, New York City, Hubert D. Johnson, Dallas, Tex., for American Stock Exchange.

Philip A. Loomis, Jr., Gen. Counsel, Walter P. North, Associate Gen. Counsel, Theodore Sonde, Asst. Gen. Counsel, Frederic T. Spindel, Atty., S.E.C., Washington, D. C., for the S. E. C.

Before GOLDBERG, GODBOLD and RONEY, Circuit Judges.

RONEY, Circuit Judge:

We are asked by Intercontinental Industries, Inc. (INI) to review an order of the Securities and Exchange Commission granting the American Stock Exchange the right to strike the common stock of INI from listing and registration on the Exchange.1 Petitioner seeks to set the delisting order aside on the grounds that the Exchange incorrectly interpreted its own rules as to removal of a stock from listing and that both...

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