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INTERNATIONAL TRADING, LTD. v. BELL

No. 77-96.

556 S.W.2d 420 (1977)

INTERNATIONAL TRADING, LTD., a Division of GNB, Inc., GNB, Inc., J. R. Rose and Arthur Palmer, Appellants, v. Harvey L. BELL, Securities Commissioner for the State of Arkansas, Appellee.

Supreme Court of Arkansas, In Banc.

Rehearing Denied November 7, 1977.

Attorney(s) appearing for the Case

Joel J. Bellows and Charles B. Bernstein, Chicago, 111., Davidson, Plastiras & Home Ltd. by Walter W. Davidson and Cyril Hollingsworth, Little Rock, for appellants.

Richard E. Nathan, Frederic T. Spindel, William E. Gressman, Washington, D. C, amicus curiae for The Commodity Futures Trading Com'n.

Harvey L. Bell, Securities Com'r, James T. Pitts, Arkansas Securities Dept., Little Rock, for appellee.

FOGLEMAN, Justice.

The chancery court enjoined appellants from directly or indirectly employing any device, scheme or artifice to defraud; making any untrue statement of a material fact or omitting to state a material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading, or, engaging in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person...

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