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SECURITIES & EXCHANGE COM'N v. FIFTH AVE. COACH LINES, INC.

No. 67 Civ. 4182.

308 F.Supp. 947 (1970)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. FIFTH AVENUE COACH LINES, INC., Victor Muscat, Edward Krock, Thomas A. Bolan, Roy M. Cohn, Defendants.

United States District Court S. D. New York.

Supplemental Opinion January 22, 1970.

Attorney(s) appearing for the Case

Theodore Sonde, David M. Butowsky, Washington, D. C., Richard V. Bandler, New York City, for plaintiff.

Strasser, Spiegelberg, Fried & Frank, New York City, for Trustee-Receiver; Leon Silverman, New York City, of counsel.

Millard & Greene, New York City, for Fifth Avenue Coach Lines, Inc. and Thomas A. Bolan; Myron J. Greene, New York City, of counsel.

Proskauer, Rose, Goetz & Mendelsohn, New York City, for Newton Glekel; George G. Galantz, New York City, of counsel.

Krieger, Chodash & Politan, Jersey City, N. J., for Gray Line Corp.; Harold Krieger, Nicholas H. Politan, Jersey City, N. J., of counsel.

OPINION

McLEAN, District Judge.

The judgment in this action entered on August 12, 1968 determined that Fifth Avenue Coach Lines, Inc. (Fifth) is an investment company within the meaning of the Investment Company Act of 1940 and enjoined it from engaging in business in interstate commerce until it registered under Section 8 of the Act. Because of various acts of mismanagement discussed in detail in the court's opinion dated July 26, 1968 on the part of certain...

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