S. E. C. v. ENERGY GROUP OF AMERICA, INC.

No. 77 Civ. 3187.

459 F.Supp. 1234 (1978)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. ENERGY GROUP OF AMERICA, INC., Edwin G. Axel, Defendants.

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

September 21, 1978.


Attorney(s) appearing for the Case

William D. Moran, Regional Administrator, U. S. Securities and Exchange Commission, New York City, Michael T. Gregg, New York City, for S. E. C.

Schnitzer & Schnitzer, Morris M. Schnitzer, Lowy & Levine, John B. Lowy, Newark, N. J., for defendants.


MEMORANDUM DECISION

STEWART, District Judge:

The Securities and Exchange Commission ("SEC") has filed a complaint charging the defendants, Energy Group of America ("EGA") and its president and sole stockholder, Edwin G. Axel ("Axel"), with violations of various provisions of the Securities Act of 1933, the Securities Exchange Act of 1934, and rules promulgated thereunder. The SEC seeks an injunction against the continuing sale and offering for sale of unregistered...

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