Court of Appeals for the Second Circuit June 3, 1959, 25171_1 (Gilligan, Will & Co., a Partnership, and James Gilligan and William Will v. Securities and Exchange Commission)

LUMBARD, Circuit Judge.

The question for decision is whether Gilligan, Will & Co. and its partners, James Gilligan and William Will, were underwriters with respect to the distribution of Crowell-Collier Publishing Company securities and as such wilfully violated the Securities Act of 1933, as amended, 15 U.S.C.A. § 77a et seq.