Securities Law Commons^™

Administrative Law - Powers Of Agencies - Right Of Registrant To Withdraw Registration Statement Filed With The Securities And Exchange Commission, John Edward Porter

Michigan Law Review

Petitioner filed a registration statement with the Securities and Exchange Commission for an issue of corporate stock. Shares of the same class as those being registered were widely held by members of the public. Petitioner repeatedly amended the statement, so that it had not yet become effective nearly three months after the initial filing. At this time, petitioner sought to withdraw its registration statement. The commission denied the application for withdrawal, and after a hearing, issued a stop order, preventing the statement from becoming effective and indicating its unreliability. On petition for review of the order, held, affirmed. Where …