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SECURITIES AND EXCHANGE COM'N v. STERLING PRECISION CORP.

66 Civ. 3052.

276 F.Supp. 772 (1967)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. STERLING PRECISION CORPORATION and the Equity Corporation, Defendants.

United States District Court S. D. New York.

July 7, 1967.

Attorney(s) appearing for the Case

Philip A. Loomis, Jr., Gen. Counsel, Walter P. North, Associate Gen. Counsel, Washington, D. C., for plaintiff Securities and Exchange Commission.

Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for defendant Sterling Precision Corp., Friedman, Koven, Salzman, Koenigsberg, Specks & Homer, Chicago, Ill., of counsel.

Palmer, Serles, Delaney & Shaw, New York City, for defendant The Equity Corp., Arnold & Porter, Washington, D. C., of counsel.

McLEAN, District Judge.

This is an action by the Securities and Exchange Commission to enjoin defendant Sterling Precision Corporation (Sterling) from redeeming its debentures and preferred stock held by defendant Equity Corporation (Equity), and for a judgment determining that the redemption which has already occurred is void. Equity is a closed-end nondiversified investment company registered with the Commission under...

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