The following excerpt is from SECURITIES & EXCHANGE COM'N v. Great American Indus., Inc., 407 F.2d 453 (2nd Cir. 1968):
Of a similar character was Berko v. SEC, 297 F.2d 116 (2 Cir., 1961), in which a salesman touted a stock of which he had no real knowledge and made completely unfounded representations.
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