Securities and Exchange Comm'n v. Johnson, Jr., et al., No. 09-5399 (D.C. Cir. 2011)Annotate this Case
In this civil enforcement action, a jury found that appellant aided and abetted a securities fraud by his former employer, in violation of 15 U.S.C. 78t(e). The district court fined appellant and barred him from serving as an officer or director of a publicly held company for five years. On appeal, appellant argued that the district court erred in allowing his trial to proceed in the District of Columbia pursuant to the "co-conspirator theory of venue." The court held that the SEC failed to lay venue in the District of Columbia under the straightforward language of 15 U.S.C. 78aa. Accordingly, the judgment was reversed and the district court was instructed to dismiss the case without prejudice.
This opinion or order relates to an opinion or order originally issued on June 28, 2011.