Supreme Court of the United States November 8, 1971, 70-60 (Superintendent of Insurance of New York v. Bankers Life & Casualty Co.)

Mr. Justice Douglas

delivered the opinion of the Court.

Manhattan Casualty Co., now represented by petitioner, New York’s Superintendent of Insurance, was, it is alleged, defrauded in the sale of certain securities in violation of § 17 (a) of the Securities Act of 1933, 48 Stat. 84, 15 U. S. C. § 77q (a), and of § 10 (b) of the Securities Exchange Act of 1934, 48 Stat. 891, 15 U. S. C. § 78j (b).