Securities and Exchange Commission v. Kenton Capital, Ltd.
United States District Court for the District of Columbia
69 F. Supp. 2d 1 (D.D.C. 1998)
Relevant factsFree
Kenton Capital's (defendant) president Wallace hired Carter to recruit investors using agreements promising a 3,750% weekly return for 40 weeks, requiring investors to submit only basic identifying documents like a driver's license, and over 40 investors pledged funds without receiving any registration-statement-type disclosures; the SEC (plaintiff) sued for violating the Securities Act's registration requirements and moved for summary judgment.
IssueFree
Whether transactions by an issuer that do not involve public offerings are exempt from the Securities Act's registration requirements.
Related cases
Securities and Exchange Commission v. Ralston Purina Co.346 U.S. 119 (1953)Doran v. Petroleum Management Corp.545 F.2d 893 (5th Cir. 1977)Hyer v. MaloufFed. Sec. L. Rep. (CCH) ¶ 94,857 (D. Utah 2008)Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing Penalties and a Cease-and-Desist Order (In re CarrierEQ, Inc. d/b/a AirFox)2018 WL 6017664 (2018)Securities and Exchange Commission v. Manor Nursing Centers, Inc.458 F.2d 1082 (1972)