FEDERAL SECURITIES LAWS AND DEFENSE
CONTRACTING-Part 1

HEARINGS

BEFORE THE

SUBCOMMITTEE ON

OVERSIGHT AND INVESTIGATIONS

OF THE

COMMITTEE ON

ENERGY AND COMMERCE

HOUSE OF REPRESENTATIVES

NINETY-NINTH CONGRESS

FIRST SESSION

ON

OVERSIGHT OF THE FEDERAL SECURITIES LAWS AND DISCLOSURES

THEREUNDER BY THE GENERAL DYNAMICS CORP.

FEBRUARY 28 AND MARCH 25, 1985

Serial No. 99-48

Printed for the use of the Committee on Energy and Commerce

56-727 O

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON 1986

ECURITIES LAWS AND DEFENSE

CONTRACTING

HURSDAY, FEBRUARY 28, 1985

HOUSE OF REPRESENTATIVES,

OMMITTEE ON ENERGY AND COMMERCE,
MITTEE ON OVERSIGHT AND INVESTIGATIONS,

Washington, DC.
ee met, pursuant to notice, at 10:30 a.m., in room
ise Office Building, Hon. John D. Dingell (chair-

e subcommittee will come to order.
sent for being here.

efore we commence today, a brief opening state-
proceed to read.

of the Rules of the House of Representatives mmittee responsibility for the Federal securities e, for the Securities and Exchange Commission, regulated by that body. The committee and its ittee are charged with reviewing on a continuinistration of laws to ensure that they are adeely enforced.

1 has been growing in the committee has been financial markets. And the Chair observes that American investor believing in the fundamental es whose securities are traded in those markets. irate, misleading information, or information nsiders destroys the investor confidence and ultiveness of the capital markets of this Nation. Independs upon accurate and timely information, nanagement and a stock market that is fair and

oday's hearing is the General Dynamics Corp., a curities are listed and traded on the New York nd various regional stock exchanges, and which eporting requirements of the Securities and Exn. For some time, a number of allegations have e fore involving the company and Federal securihave been circulating rather widely.

o, this subcommittee began looking at these alletime, the subcommittee has received documents, ordings, interviewed witnesses, and reviewed incted by the SEC, the Department of Justice, and ent into various aspects of the company's activi

COMMITTEE ON ENERGY AND COMMERCE

JOHN D. DINGELL, Michigan, Chairman