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LAS VEGAS HAWAIIAN DEVELOPMENT CO. v. S. E. C.

Civ. No. 78-0430.

466 F.Supp. 928 (1979)

LAS VEGAS HAWAIIAN DEVELOPMENT COMPANY, Tauri Investment Corporation, and Alfred G. Bladen, Plaintiffs, v. SECURITIES AND EXCHANGE COMMISSION, Chairman Harold Williams, Commissioner Philip Loomis, Commissioner John Evans, Commissioner Irving Pollack and Commissioner Roberta Karmel, Defendants.

United States District Court, D. Hawaii.

March 13, 1979.

Attorney(s) appearing for the Case

Melville B. Bowen, Jr., J. Byron Grubaugh, Thomas M. Knepper, James J. Moylan, Abramson & Fox, Chicago, Ill., Roger V. Meeker, Honolulu, Hawaii, for plaintiffs.

James H. Schropp, Asst. Gen. Counsel, Richard M. Humes, Atty., Paul Gonson, Principal Associate Gen. Counsel, Securities & Exchange Commission, Washington, D. C., Stanley D. Tabor, Asst. U. S. Atty., Walter M. Heen, U. S. Atty., Honolulu, Hawaii, for defendants.

DECISION AND ORDER

SAMUEL P. KING, Chief Judge.

STATEMENT OF THE CASE

Plaintiffs Las Vegas Hawaiian Development Company (LVH), Tauri Investment Corporation (Tauri), and Alfred G. Bladen (Bladen), on November 7, 1978, filed a Complaint for Declaratory Judgment against the Securities and Exchange Commission (SEC or Commission) and its commissioners. They seek a declaration that section 8(e) of the Securities Act of 1933 (15 U.S.C. § 77h(e))...

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