Word: secounsel
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Having mulled over the Lehman letter, SECounsel Burns wrote an answer: 1) pegging was permissible; 2) pegging need not necessarily imply a fixed price, though "activities designed substantially to raise or lower stock exchange prices are clearly manipulative," hence illegal; 3) the prospectus should disclose the fact that the underwriters were engaged in pegging the price of the stock; 4) "this represents my opinion and is not to be taken as an expression of the views of the Commission...
...young New Deal lawyers, present last week only as "friends of the court," this legal background appeared distinctly "suspicious." SECounsel Burns questioned the court's jurisdiction, accused the interested lawyers of "collusion" and "professional impropriety." Those are serious charges in any court and, coming from a man about half his age, they made Mr. Davis boil. Rising with dignity he thundered...
...could not sell them. Charging that the application contained "untrue statements of material facts," SEC subpoenaed Mr. Jones to appear for a hearing last week. Mr. Jones sent his lawyer. The Commission refused to listen to that gentleman until he asked if he could withdraw the application. Uprose SECounsel John J. Burns to bellow: "You can't go up under the gun of a stop order and then seek to avoid...
...fairly crawling with microphones and dictaphones-under the desk, under the couch, in the portiéres, behind the radiators and pictures, in the radio cabinet. Upstairs two court stenographers recorded every word, and a platoon of lawyers and officials listened in. Mr. Jones was particularly pleased that SECounsel Burns was on hand...
...Chrysler man who has lately been Hupp's production manager. Meantime in Washington in hearings on the New York Stock Exchange's request for permission to de-list Hupp stock, the Securities & Exchange Commission continued to quiz Promoter Andrews on his involved Hupp contracts, one of which SECounsel John L. Flynn acidly termed an agreement between "you, you and you in triplicate...
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