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SEC. AND EXCHANGE COM'N v. PENN CENT. CO.

Civ. A. No. 74-1125.

450 F.Supp. 908 (1978)

SECURITIES AND EXCHANGE COMMISSION v. PENN CENTRAL CO. et al.

United States District Court, E. D. Pennsylvania.

April 18, 1978.

Attorney(s) appearing for the Case

Benjamin Greenspoon, Wm. H. Kuehnle, Neil S. Lang, Brian B. McMenamin, Washington, D. C., for Securities and Exchange Commission.

Cecil A. Morgan, David B. Owen, Fort Worth, Tex., Gerald L. McMahon, Seltzer Caplan Wilkins & McMahon, San Diego, Cal., for Wm. Ray.

Darrell E. Jordan, James S. Ramsey, Jr., Gordon B. Russell, Jordan, Ramsey & Hill, Dallas, Tex., for Wm. Baker.

OPINION

JOSEPH S. LORD, III, Chief Judge.

In our opinion and order of December 28, 1976, 425 F.Supp. 593, we denied the motions of defendants Baker, Bevan, Caldwell and Ray to dismiss and for summary judgment on the claims of the Securities and Exchange Commission for injunctive relief and disgorgement based on alleged violations of the federal securities laws. We now decide that the motions to dismiss, motions for summary...

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