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SEC v. SLOAN

No. 76-1607.

436 U.S. 103 (1978)

98 S.Ct. 1702

56 L.Ed.2d 148

SECURITIES AND EXCHANGE COMMISSION v. SLOAN.

Supreme Court of United States.

Decided May 15, 1978.

Attorney(s) appearing for the Case

Harvey L. Pitt argued the cause for petitioner. With him on the brief were Solicitor General McCree, Deputy Solicitor General Jones, Howard E. Shapiro, and Frederick B. Wade.

Samuel H. Sloan, respondent, argued the cause and filed a brief pro se.*

MR. JUSTICE REHNQUIST delivered the opinion of the Court.

Under the Securities Exchange Act of 1934, ch. 404, 48 Stat. 881, the Securities and Exchange Commission has the authority "summarily to suspend trading in any security . . . for a period not exceeding ten days" if "in its opinion the public interest and the protection of investors so require."1 Acting pursuant to this authority the Commission...

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