DH2, INC. v. U.S. S.E.C.

No. 04-2242, 04-2487.

422 F.3d 591 (2005)

DH2, INCORPORATED, an Illinois Corporation, Petitioner, v. UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Respondent.

United States Court of Appeals, Seventh Circuit.

Decided September 7, 2005.


Attorney(s) appearing for the Case

Marc S. Lauerman, Charles S. Bergen (argued), Grippo & Elden, Chicago, IL, and David F. Freeman, Jr., Arnold & Porter, Washington, DC, for Petitioner.

Thomas J. Karr, Donna S. McCaffrey (argued), Securities & Exchange Commission Office of the General Counsel, Washington, DC, John E. Birkenheier, Mary Keefe, Securities and Exchange Commission, Chicago, IL, for Respondent.

Before KANNE, EVANS, and SYKES, Circuit Judges.


SYKES, Circuit Judge.

These consolidated petitions for review challenge certain rules releases issued by the Securities and Exchange Commission ("SEC") in the wake of New York Attorney General Elliot Spitzer's investigation into abuses in the mutual fund industry. Petitioner DH2, Inc., is an Illinois corporation that trades in mutual funds and makes money by taking advantage of short-term price/value discrepancies that occur when the current value of a fund's portfolio...

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