S.E.C. v. MacDONALD

Nos. 81-1356, 81-1513 and 81-1514.

699 F.2d 47 (1983)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, Appellee, v. James E. MacDONALD, Jr., Defendant, Appellant.

United States Court of Appeals, First Circuit.

Decided February 1, 1983.


Attorney(s) appearing for the Case

Thomas D. Gidley, Providence, R.I., with whom Paul V. Curcio, and Hinckley, Allen, Salisbury & Parsons, Providence, R.I., were on brief, for appellant before panel.*

Harlan W. Penn, S.E.C., Washington, D.C., with whom Paul Gonson, Sol., Edward F. Greene, Gen. Counsel, Michael K. Wolensky, Associate Gen. Counsel, and John P. Sweeney, Asst. Gen. Counsel, Washington, D.C., were on brief, for appellee.*

Before COFFIN, Chief Judge, ALDRICH, CAMPBELL, BOWNES and BREYER, Circuit Judges.


OPINION EN BANC1

BAILEY ALDRICH, Senior Circuit Judge.

In this proceeding brought by the Securities Exchange Commission (SEC), defendant James E. MacDonald, Jr. was ordered by the district court to disgorge profits of $53,012 realized on the purchase and subsequent sale of 9,600 shares of Realty Income Trust (RIT) stock. The court, sitting without jury, found that defendant violated the antifraud provisions of the Securities...

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