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Summary Judgment Won Against Unregistered Investment Company
SEC v. National Presto Industries, Inc.
- 2005
Defendant was found to have failed to register as an investment company despite having at least 70% of its total assets in investment securities (the minimum requiring registration was 40%). The company was permanently enjoined, among other relief. An administrative proceeding was also brought against Melvin Cohen, National Presto’s Chairman Emeritus.
