The Court of Appeals in Washington vacated...

The Court of Appeals in Washington vacated the Securities and Exchange Commission’s order against Blinder, Robinson & Co. of Denver, agreeing with the firm that the SEC had treated the firm unfairly. The case stemmed from Blinder Robinson’s $25-million underwriting of American Leisure in 1980, and the appeals court verdict vacated the SEC order and remanded the matter, directing the commission to proceed in accordance with its decision.