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SECURITIES AND EXCHANGE COM'N v. BANGOR PUNTA CORP.

No. 70 Civ. 3940.

331 F.Supp. 1154 (1971)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. BANGOR PUNTA CORPORATION, Defendant.

United States District Court, S. D. New York.

Application Denied September 17, 1971.

Attorney(s) appearing for the Case

Philip A. Loomis, Jr., Gen. Counsel, David Ferber, Sol., Robert E. Kushner, Asst. Gen. Counsel, James J. Sexton, Atty., S.E.C., Washington, D.C., for plaintiff.

Webster, Sheffield, Fleischmann, Hitchcock & Brookfield, New York City, for defendant by James V. Ryan and C. Kenneth Shank, Jr., New York City, of counsel.

FINDINGS AND OPINION

POLLACK, District Judge.

This is one of a series of cases in this Court arising out of a contest between Bangor Punta Corporation ("Bangor Punta") and Chris-Craft Industries, Inc. for control of Piper Aircraft Company ("Piper")—a struggle from which Bangor Punta emerged, in September, 1969, with control of Piper.1

In this action the Securities and Exchange Commission ("Commission") asks the...

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