Securties and Exchange Commission v. Gordon A. Driver et al, No. 2:2009cv03410 - Document 75 (C.D. Cal. 2014)
Court Description: FINAL JUDGMENT AGAINST DEFENDANT GORDON A. DRIVER by Judge Otis D. Wright, II: Driver and his agents, are permanently restrained and enjoined from violating Securities Act. Driver is liable for disgorgement of $3,010,147.00, representing profi ts gained as a result of the conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $108,971.17, for a total of $3,119,118.17 to be paid to the Securities and Exchange Commission Defendant shall pay p ost judgment interest on any delinquent amounts. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Driver shall pay a civil penalty in the amount of $3,010,147.00 within 14 days after entry of this final judgment. (SEE DOCUMENT FOR OTHER SPECIFICS AS TO PAYMENT INSTRUCTIONS AND OTHER REQUIREMENTS). (lc)
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Securties and Exchange Commission v. Gordon A. Driver et al Doc. 75 LYNN M. DEAN, Cal. Bar No. 205562 1 Email: deanl@sec.gov 2 3 Attorneys for Plaintiff 4 Securities and Exchange Commission Michele Wein Layne, Regional Director 5 Lorraine Echavarria, Associate Regional Director 6 John W. Berry, Regional Trial Counsel 444 South Flower Street, Suite 900 7 Telephone: (323) 965-3840 8 Facsimile: (213) 443-1904 CASE CLOSED 9 10 UNITED STATES DISTRICT COURT 11 CENTRAL DISTRICT OF CALIFORNIA 12 13 SECURITIES AND EXCHANGE COMMISSION, 14 Plaintiff, Case No.: CV 09-3410- ODW (RZx) (The Hon. Otis D. Wright II) 15 16 17 18 FINAL JUDGMENT AGAINST GORDON A. DRIVER vs. GORDON A. DRIVER and AXCESS AUTOMATION, LLC, Defendants. 19 20 21 22 23 24 25 26 27 28 Final Judgment Against Gordon A. Driver CV 09 3410 ODW RZx Dockets.Justia.com 1 Plaintiff Securities and Exchange Commission (“Commission”) having filed a 2 Complaint and Defendant Gordon A. Driver (“Driver”) having entered a general 3 appearance; consented to the Court’s jurisdiction over him and the subject matter of 4 this action; consented to entry of this Judgment without admitting or denying the 5 allegations of the Complaint (except as to jurisdiction); having waived findings of fact 6 and conclusions of law; and having consented to the determination of disgorgement 7 with prejudgment interest and civil penalties by motion; and the Commission’s 8 Motion for Entry of Final Judgment Imposing Disgorgement, Prejudgment Interest, 9 and a Civil Penalty Against Driver having come before the Court: I. 10 11 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Driver and 12 his agents, servants, employees, attorneys, and all persons in active concert or 13 participation with them who receive actual notice of this Judgment by personal service 14 or otherwise are permanently restrained and enjoined from violating, directly or 15 indirectly, Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange 16 Act”), 15 U.S.C. § 78j(b), and Rule 10b-5 promulgated thereunder, 17 C.F.R. § 17 240.10b-5, by using any means or instrumentality of interstate commerce, or of the 18 mails, or of any facility of any national securities exchange, in connection with the 19 purchase or sale of any security: 20 (a) to employ any device, scheme, or artifice to defraud; 21 (b) to make any untrue statement of a material fact or to omit to state a 22 material fact necessary in order to make the statements made, in the light of the 23 circumstances under which they were made, not misleading; or 24 (c) to engage in any act, practice, or course of business which operates or 25 would operate as a fraud or deceit upon any person. 26 27 28 Final Judgment Against Gordon A. Driver CV 09 3410 ODW RZx 1 II. 1 2 IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that 3 Driver and his agents, servants, employees, attorneys, and all persons in active concert 4 or participation with them who receive actual notice of this Judgment by personal 5 service or otherwise are permanently restrained and enjoined from violating Section 6 17(a) of the Securities Act of 1933 (the “Securities Act”), 15 U.S.C. § 77q(a), in the 7 offer or sale of any security by the use of any means or instruments of transportation 8 or communication in interstate commerce or by use of the mails, directly or indirectly: 9 (a) to employ any device, scheme, or artifice to defraud; 10 (b) to obtain money or property by means of any untrue statement of a 11 material fact or any omission of a material fact necessary in order to make the 12 statements made, in light of the circumstances under which they were made, not 13 misleading; or 14 (c) to engage in any transaction, practice, or course of business which 15 operates or would operate as a fraud or deceit upon the purchaser. III. 16 17 IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that 18 Driver and his agents, servants, employees, attorneys, and all persons in active concert 19 or participation with them who receive actual notice of this Final Judgment by 20 personal service or otherwise are permanently restrained and enjoined from violating 21 Section 5 of the Securities Act, 15 U.S.C. § 77e, by, directly or indirectly, in the 22 absence of any applicable exemption: 23 (a) Unless a registration statement is in effect as to a security, making use of 24 any means or instruments of transportation or communication in interstate commerce 25 or of the mails to sell such security through the use or medium of any prospectus or 26 otherwise; 27 (b) Unless a registration statement is in effect as to a security, carrying or 28 causing to be carried through the mails or in interstate commerce, by any means or Final Judgment Against Gordon A. Driver CV 09 3410 ODW RZx 2 1 instruments of transportation, any such security for the purpose of sale or for delivery 2 after sale; or 3 (c) Making use of any means or instruments of transportation or 4 communication in interstate commerce or of the mails to offer to sell or offer to buy 5 through the use or medium of any prospectus or otherwise any security, unless a 6 registration statement has been filed with the Commission as to such security, or while 7 the registration statement is the subject of a refusal order or stop order or (prior to the 8 effective date of the registration statement) any public proceeding or examination 9 under Section 8 of the Securities Act, 15 U.S.C. § 77h. IV. 10 11 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Driver and 12 his agents, servants, employees, attorneys, and all persons in active concert or 13 participation with any of them who receive actual notice of this Judgment by personal 14 service or otherwise are permanently restrained and enjoined from violating, directly 15 or indirectly, Section 15(a) of the Exchange Act, 15 U.S.C. § 78o(a), by making use of 16 the mails or any means or instrumentality of interstate commerce to effect any 17 transaction in, or to induce or attempt to induce the purchase or sale of, any security, 18 without being registered as a broker or dealer in accordance with Section 15(b) of the 19 Exchange Act, 15 U.S.C. § 78o(a). V. 20 21 IT IS FURTHER ORDERED, ADJUDGED AND DECREED that Driver is 22 liable for disgorgement of $3,010,147.00, representing profits gained as a result of the 23 conduct alleged in the Complaint, together with prejudgment interest thereon in the 24 amount of $108,971.17, for a total of $3,119,118.17. Defendant shall satisfy this 25 obligation by paying $3,119,118.17 to the Securities and Exchange Commission 26 within 14 days after entry of this Final Judgment. 27 Defendant may transmit payment electronically to the Commission, which will 28 provide detailed ACH transfer/Fedwire instructions upon request. Payment may also Final Judgment Against Gordon A. Driver CV 09 3410 ODW RZx 3 1 be made directly from a bank account via Pay.gov through the SEC website at 2 http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified 3 check, bank cashier’s check, or United States postal money order payable to the 4 Securities and Exchange Commission, which shall be delivered or mailed to 5 6 7 Enterprise Services Center Accounts Receivable Branch 6500 South MacArthur Boulevard Oklahoma City, OK 73169 8 9 and shall be accompanied by a letter identifying the case title, civil action number, and 10 name of this Court; Gordon A. Driver as a defendant in this action; and specifying that 11 payment is made pursuant to this Final Judgment. Defendant shall simultaneously transmit photocopies of evidence of payment 12 13 and case identifying information to the Commission’s counsel in this action. By 14 making this payment, Defendant relinquishes all legal and equitable right, title, and 15 interest in such funds and no part of the funds shall be returned to Defendant. The 16 Commission shall send the funds paid pursuant to this Final Judgment to the United 17 States Treasury. Defendant shall pay post judgment interest on any delinquent amounts pursuant 18 19 to 28 U.S.C. § 1961. VI. 20 21 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Driver shall 22 pay a civil penalty in the amount of $3,010,147.00 pursuant to Section 20(d) of the 23 Securities Act, 15 U.S.C. § 77t(d), and Section 21(d)(3) of the Exchange Act, 15 24 U.S.C. § 78u(d)(3). Defendant shall make this payment within 14 days after entry of 25 this Final Judgment. 26 Defendant may transmit payment electronically to the Commission, which will 27 provide detailed ACH transfer/Fedwire instructions upon request. Payment may also 28 be made directly from a bank account via Pay.gov through the SEC website at Final Judgment Against Gordon A. Driver CV 09 3410 ODW RZx 4 1 http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified 2 check, bank cashier’s check, or United States postal money order payable to the 3 Securities and Exchange Commission, which shall be delivered or mailed to 4 Enterprise Services Center Accounts Receivable Branch 6500 South MacArthur Boulevard Oklahoma City, OK 73169 5 6 7 and shall be accompanied by a letter identifying the case title, civil action number, 8 and name of this Court; Gordon A. Driver as a defendant in this action; and specifying 9 that payment is made pursuant to this Final Judgment. 10 Defendant shall simultaneously transmit photocopies of evidence of payment 11 and case identifying information to the Commission’s counsel in this action. By 12 making this payment, Defendant relinquishes all legal and equitable right, title, and 13 interest in such funds and no part of the funds shall be returned to Defendant. The 14 Commission shall send the funds paid pursuant to this Final Judgment to the United 15 States Treasury. Defendant shall pay post-judgment interest on any delinquent 16 amounts pursuant to 28 USC § 1961. 17 VII. 18 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the 19 previously filed Consent is incorporated herein with the same force and effect as if 20 fully set forth herein, and that Driver shall comply with all of the undertakings and 21 agreements set forth therein. 22 /// 23 /// 24 /// 25 /// 26 /// 27 /// 28 Final Judgment Against Gordon A. Driver CV 09 3410 ODW RZx 5 VIII. 1 2 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court 3 shall retain jurisdiction of this matter for the purposes of enforcing the terms of this 4 Judgment. 5 6 Dated: December 19, 2014 7 8 __________________________________ HONORABLE OTIS D. WRIGHT UNITED STATES DISTRICT JUDGE 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Final Judgment Against Gordon A. Driver CV 09 3410 ODW RZx 6
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