Stardust, Inc. v. Securities and Exchange Commission, 225 F.2d 255 (9th Cir. 1955)

United States Court of Appeals, Ninth Circuit, No. 14818, July 29, 1955, before Chief Judge Denman and Judges Stephens and Bone, with the opinion by Judge Denman. Petitioners Stardust, Inc., and Anthony Cornero Stralla asked the court to set aside an order of the Securities and Exchange Commission “that an investigation be made to determine whether Stardust, Inc., and Anthony Cornero Stralla have engaged in the acts and practices set forth in Section II.”

Section II of the order says staff reports tended to show that “During the period from about June 7, 1954 to the present, Stardust, Inc., and Anthony Cornero Stralla have offered, sold and delivered” shares of preferred and common stock of Stardust, Inc., using the mails and interstate commerce. The petition says the Commission served subpoenas duces tecum on Stardust, Inc. and on “Anthony Cornero Stralla, President, Secretary and Treasurer” for its stock records, and had applied to a district court in Los Angeles to enforce them. The petitioners argued they were persons aggrieved by the order.

The opinion states the SEC’s allegations and the petitioners’ standing argument. It does not say that the corporation’s project was a casino or that it was in Las Vegas, and this archive does not link the company to the Stardust casino. It is filed because it is a federal record naming Cornero as the corporation’s officer.