SEC v. First Houston Capital Resources

Case No. 91-1681 Because the district judge did not appear to consider alternatives to ordering a default judgment and because the record suggests that Dermer's conduct is insufficient to support such a severe sanction, we vacate the judgmentt and remand the case for further proceedings in accordance with this opinion. Judgment; TLS of Judge Wisdom; Brief for Appellant; bench memorandum with notes; Brief of Securities and Exchange Commission, Appellee; Reply Brief of Appellant.