SECURITIES AND EXCHANGE COM'N v. BAUSCH & LOMB, INC.

No. 73 Civ. 2458.

420 F.Supp. 1226 (1976)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. BAUSCH & LOMB, INC. and Daniel G. Schuman, Defendants.

United States District Court, S. D. New York.

September 16, 1976.


Attorney(s) appearing for the Case

William D. Moran, Regional Administrator, Securities and Exchange Commission, New York City, for plaintiff; Alfred E. T. Rusch, Neil S. Lang, Benjamin Greenspoon, United States Securities & Exchange Commission, Division of Enforcement, Washington, D. C., of counsel.

Nixon, Hargrave, Devans & Doyle, Rochester, N. Y., for defendant Bausch & Lomb, Inc.; William H. Morris, John Stuart Smith, Rochester, N. Y., of counsel.

Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for defendant Daniel G. Schuman; Arthur L. Liman, Lewis A. Kaplan, Adele R. Wailand, New York City, of counsel.


OPINION

ROBERT J. WARD, District Judge.

Plaintiff Securities and Exchange Commission ("SEC" or "Commission") seeks to permanently enjoin defendants Bausch & Lomb, Inc. ("BOL") and Daniel G. Schuman ("Schuman") from violating § 10(b) of the Securities Exchange Act of 1934 ("the 1934 Act"), (15 U.S.C. § 78j(b)), and Rule 10b-5 promulgated thereunder (17 CFR § 240.10b-5).

Introduction

The broad anti-fraud provisions...

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