Word: timetrust
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...Deal began in 1938. Late that year SEC, threatening to delist its stock, charged that Transamerica's registration statement contained "false and misleading statements." Old A. P., a born battler, haled SEC to court. While still there, SEC bit him again. Bank of America was accused of helping Timetrust, an investing company which owns Bank of America stock, in a "device, scheme and artifice to defraud" buyers of its certificates...
...Extended its attack on the Giannini interests by seeking a permanent injunction to restrain Timetrust, Inc. from further sale of certificates representing ownership in various Giannini banks. About $1,600,000 in such certificates is outstanding. SEC charged that they are a means of "obtaining money ... by means of untrue statements" such as that their purchase is similar to starting a savings account. Timetrust's President Meredith Parker retorted that SEC was using "unlawful and unwarranted tactics" to embarrass the Giannini family...
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