One day after the registration statement filed by the corporation became effective, the Securities and Exchange Commission ordered a hearing to determine whether or not a stop order should be issued to suspend the effectiveness of the registration statement. Various issues of the same stock which registrant proposed to issue had been sold on the market, prior to the filing of the registration statement. During the hearings the corporation filed a motion to withdraw its registration statement. The motion was denied. The Securities and Exchange Commission applied to the district court for an order to compel obedience to its subpoena and subpoena duces tecum previously issued and not obeyed. Held, the registrant was not entitled as a matter of right to withdraw its registration statement after partial completion of the hearing and after the registration statement had become effective where issues of the same stock had been sold, and there fore the order was granted. Securities & Exchange Commission v. Hoover, (D. C. Ill. 1938) 25 F. Supp. 484.
Arthur A. Greene Jr.,
CORPORATIONS - RIGHT OF THE REGISTRANT TO WITHDRAW A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol37/iss6/17