Fed. Sec. L. Rep. P 99,182 Jerry T. O'brien, Inc., Doing Business as Pennaluna & Co., Plaintiffs v. Securities and Exchange Commission, and Harry F. Magnuson and H.F. Magnuson & Company, Cross-Plaintiffs-Appellants v. Securities and Exchange Commission, Cross-Defendants-Appellees

704 F.2d 1065 Fed. Sec. L. Rep. P 99,182 JERRY T. O'BRIEN, INC., doing business as Pennaluna & Co., et al., Plaintiffs- Appellants, v. SECURITIES AND EXCHANGE COMMISSION, et al., Defendants-Appellees, and Harry F. MAGNUSON and H.F. Magnuson & Company, Cross-Plaintiffs-Appellants, v. SECURITIES AND EXCHANGE COMMISSION, et al., Cross-Defendants-Appellees. Nos. 82-3108, 82-3109 and 82-3185. United States Court of Appeals, Ninth Circuit. Argued and Submitted Feb. 8, 1983. Decided April 25, 1983. Linda D. Fienberg, S.E.C., Washington, D.C., for defendants-appellees. William D. Symmes, Witherspoon, Kelley, Davenport & Toole, Spokane, Wash., for cross-plaintiffs-appellants. C. Dean Little, Lesourd, Patten, Fleming, Hartung & Emory, Seattle, Wash., for plaintiffs-appellants. Appeal from the United States District Court for the Eastern District of Washington. Before SKOPIL, PREGERSON, and FERGUSON, Circuit Judges. PREGERSON, Circuit Judge: 1 * The Securities and Exchange Commission (SEC) moved the district court to dismiss appellants' claims for injunctive relief. The court granted the motion after concluding that agency-initiated subpoena enforcement proceedings afforded…