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Articles 31 - 43 of 43
Full-Text Articles in Securities Law
Securities Regulation-Civil Liability Under Rule X-10b-5 For Fraud In The Purchase Or Sale Of Securities, J. David Voss S.Ed.
Securities Regulation-Civil Liability Under Rule X-10b-5 For Fraud In The Purchase Or Sale Of Securities, J. David Voss S.Ed.
Michigan Law Review
On May 21, 1942 the Securities and Exchange Commission, pursuant to section 10(b) of the Securities Exchange Act of 1934, promulgated rule X-10B-5.2 The purpose of the new rule was apparently to close a loophole in the then existing pattern of regulation of the purchase and sale of securities. The loophole resulted from a gap between section 17(a) of the Securities Act of 1933, which prohibits the use of fraud in the sale of securities by any person, and section 15(c)(1) of the Securities Exchange Act of 1934, which prohibits the use of fraud in the sale or purchase of …
Loss: Securities Regulation, Arthur H. Dean
Loss: Securities Regulation, Arthur H. Dean
Michigan Law Review
A Review of SECURITIES REGULATION. By Louis Loss.
Corporations-Voluntary Reorganization Under The Public Utility Holding Company Act Of 1935-Valuation Of Stock Option Warrant, William H. Bates
Corporations-Voluntary Reorganization Under The Public Utility Holding Company Act Of 1935-Valuation Of Stock Option Warrant, William H. Bates
Michigan Law Review
Appellant corporation submitted a voluntary reorganization plan to the Securities and Exchange Commission pursuant to sections II(h)(2) and II(e) of the Public Utility Holding Company Act of 1935. The plan consisted of two parts. The first proposed consolidation of three of the appellant's subsidiaries into a newly formed operational company. The second part provided for dissolution of the appellant corporation, with the holders of securities therein being issued stock in the new corporation to the extent of the value of their interest in the appellant corporation. All the security holders of appellant were allowed participation in the securities of the …
Constitutional Law-Public Utility Holding Company Act--Validity Of Holding Company "Death Sentence" Clause, John A. Huston
Constitutional Law-Public Utility Holding Company Act--Validity Of Holding Company "Death Sentence" Clause, John A. Huston
Michigan Law Review
Petitioner was the topmost holding company in a public utility holding company system which included eighty subsidiaries and served three million customers in seventeen states. By provision of section 11 (b) (1) of the Public Utility Holding Company Act of 1935, the Securities and Exchange Commission was empowered to limit the operations of a holding company registered with it under the act to "a single integrated public utility system." Acting under this authority, the commission ordered petitioner, a registered company, to divest itself of all its subsidiary holdings excepting certain interests regarded by the commission as a single integrated system …
Corporate Proxies: Ii, Leonard H. Axe
Corporate Proxies: Ii, Leonard H. Axe
Michigan Law Review
The first installment of this article discussed the historical development of the right and power to vote by proxy, and examined the cases dealing with the regulation by by-law of the right to vote by proxy, who may act as proxy holders, and the form of the proxy. Emphasis was placed upon the practical aspects of the execution of proxies and the duties of inspectors of elections. The present installment will take up the persons entitled to appoint proxy holders, the right to examine proxies, the scope of authority conferred and exercise of power, circumstances under which a stockholder is …
Public Officers - Liability Of Federal Officers For Quasi-Judlcial Acts, Arthur M. Hoffeins
Public Officers - Liability Of Federal Officers For Quasi-Judlcial Acts, Arthur M. Hoffeins
Michigan Law Review
Plaintiff sought to withdraw a registration statement which he had filed with the Securities and Exchange Commission. The commission denied him the right to do so and applied for a court order to enforce a previously issued subpoena to compel the plaintiff to appear before it and to produce books relating to the registration statement. After the Supreme Court had upheld the plaintiff's right to withdraw the statement, he brought an action for damages against the members of the commission for malicious prosecution, libel and slander, etc., alleging in addition that the defendants had acted maliciously and in bad faith. …
The New Schoolmaster In Finance, Hiram L. Jome
The New Schoolmaster In Finance, Hiram L. Jome
Michigan Law Review
The purpose of this article is to present the attitude and views of the Securities and Exchange Commission on various financial problems. Several phases of the commission's thinking are in the writer's opinion extreme and questionable, or even unsound. Its actions have not always been consistent with its official views. Since the writer's purpose, however, has been merely to describe and not to criticize, no attempt has been made to appraise the work of the commission.
Holding Company Act - "Fair And Equitable" Plan, Michigan Law Review
Holding Company Act - "Fair And Equitable" Plan, Michigan Law Review
Michigan Law Review
Should the words "fair and equitable" in section II (e) of the Holding Company Act be construed differently than the same words in section 77 B of the Bankruptcy Act? The Securities and Exchange Commission faced this question in disposing of a proposed plan of merger involving Utility Operators Company and subsidiaries. A divided commission gave an affirmative answer to the above question, holding "fair and equitable" in the Holding Company Act to permit relative priority. This holding merits particular interest since the United States Supreme Court has held the same words as used in section 77B permitted only absolute …
Corporations - Modification Provisions Of Corporate Mortgages And Trust Indentures, Charles H. Haines Jr.
Corporations - Modification Provisions Of Corporate Mortgages And Trust Indentures, Charles H. Haines Jr.
Michigan Law Review
As early as the late 1800's it was not uncommon to find included in corporate mortgages and trust indentures provisions looking to the modification of the rights of the bondholders by action of a given majority of such holders. Ordinarily the power conferred could not be exercised by the holders of less than seventy-five per cent in value of the outstanding bonds; the modification authorized might be the alteration of security rights, the deferment of payments of interest or principal, the reduction of interest, or even the reduction of the debt. Inasmuch as the same equitable doctrines limit their use, …
Securities Legislation - Act Of 1933 - Withdrawal Of Registration Statement, Fred C. Newman
Securities Legislation - Act Of 1933 - Withdrawal Of Registration Statement, Fred C. Newman
Michigan Law Review
The right to withdraw, a registration statement filed with the Securities and Exchange Commission was involved in a recent case. The plaintiff had filed a registration statement with the Securities and Exchange Commission. The statement became effective. Thereafter, the commission instituted proceedings under the stop order provision. There had been no sale of shares to which the registration statement related. After the hearings commenced, plaintiff petitioned the commission for permission to withdraw the registration statement. The commission denied the petition. Thereupon plaintiff filed a bill in equity, praying that the commission be required to permit plaintiff to withdraw its registration …
Corporations - Right Of The Registrant To Withdraw A Registration Statement Under The Securities Act Of 1933, Arthur A. Greene Jr.
Corporations - Right Of The Registrant To Withdraw A Registration Statement Under The Securities Act Of 1933, Arthur A. Greene Jr.
Michigan Law Review
One day after the registration statement filed by the corporation became effective, the Securities and Exchange Commission ordered a hearing to determine whether or not a stop order should be issued to suspend the effectiveness of the registration statement. Various issues of the same stock which registrant proposed to issue had been sold on the market, prior to the filing of the registration statement. During the hearings the corporation filed a motion to withdraw its registration statement. The motion was denied. The Securities and Exchange Commission applied to the district court for an order to compel obedience to its subpoena …
Corporations - Securities Exchange Act - Unlisted Trading Privileges, Marcus L. Plant
Corporations - Securities Exchange Act - Unlisted Trading Privileges, Marcus L. Plant
Michigan Law Review
Under the Securities Exchange Act of 1934, as amended in 1936, the Securities and Exchange Commission is empowered to extend unlisted trading privileges to any security upon application by an exchange and the fulfillment of the terms and conditions of the statute.
Securities Legislation - Securities Act Of 1933 - Registration Statement - "Material Contract'', Gerald M. Stevens
Securities Legislation - Securities Act Of 1933 - Registration Statement - "Material Contract'', Gerald M. Stevens
Michigan Law Review
A registrant under the Securities Act of 1933 had borrowed from the Reconstruction Finance Corporation $200,000, payment of which was secured by mortgage of most of the debtor's assets. Registrant still owed $136,000 overdue when it filed its amended registration statement. It said therein that it had applied to the RFC for an eighteen-months extension of the debt and that the application had not then been acted upon. After the statement was filed but before it became effective, the RFC denied registrant extension of the debt and made a counter proposal for payment in part and extension in part. In …