Securities and Exchange Commission v. Jack D. Massimino et al, No. 2:2019cv01374 - Document 16 (C.D. Cal. 2019)
Court Description: FINAL JUDGMENT AS TO DEFENDANT JACK D. MASSIMINO by Judge John F. Walter. IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is permanently restrained and enjoined from any violation of Section 17(a) (3) of the Securities Act of 1933. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant shall pay a civil penalty in the amount of $80,000 to the Securities and Exchange Commission pursuant to Section 20(d) of the Securities Act. (MD JS-6, Case Terminated). (iv)
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Securities and Exchange Commission v. Jack D. Massimino et al 1 2 3 4 5 6 7 8 9 10 Doc. 16 Janie L. Frank, Texas Bar No. 07363050 Email: frankj@sec.gov U.S. Securities and Exchange Commission 801 Cherry Street, Suite 1900, Unit #18 Fort Worth, Texas 76102 Telephone: (817) 978-6478 Facsimile: (817) 978-4927 JS-6 Local Counsel: Douglas M. Miller, California Bar No. 240398 Email: millerdou@sec.gov Securities and Exchange Commission 444 S. Flower Street, Suite 900 Los Angeles, California 90071 Telephone: (323) 965-3837 Facsimile: (213) 443-1904 11 UNITED STATES DISTRICT COURT 12 CENTRAL DISTRICT OF CALIFORNIA 13 14 15 16 SECURITIES AND EXCHANGE COMMISSION, 17 Plaintiff, 18 19 20 Case No. CV 19-1374-JFW (FFMx) FINAL JUDGMENT AS TO DEFENDANT JACK D. MASSIMINO vs. JACK D. MASSIMINO and ROBERT C. OWEN, Defendants. 21 22 23 24 The Securities and Exchange Commission having filed a Complaint and 25 Defendant Jack D. Massimino having entered a general appearance; consented to the 26 Court’s jurisdiction over Defendant and the subject matter of this action; consented to 27 entry of this Final Judgment without admitting or denying the allegations of the 28 Complaint (except as to jurisdiction and except as otherwise provided herein in 1 Dockets.Justia.com 1 paragraph V); waived findings of fact and conclusions of law; and waived any right 2 to appeal from this Final Judgment: I. 3 4 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is 5 permanently restrained and enjoined from any violation of Section 17(a) (3) of the 6 Securities Act of 1933 (“Securities Act”) [15 U.S.C. § 77q(a)] in the offer or sale of 7 any security by the use of any means or instruments of transportation or 8 communication in interstate commerce or by use of the mails, directly or indirectly: 9 … 10 (3) 11 to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser. 12 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as 13 provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also 14 binds the following who receive actual notice of this Final Judgment by personal 15 service or otherwise: (a) Defendant’s officers, agents, servants, employees, and 16 attorneys; and (b) other persons in active concert or participation with Defendant or 17 with anyone described in (a). 18 19 II. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that 20 Defendant is permanently restrained and enjoined from aiding and abetting any 21 violation of Section 13(a) of the Securities Exchange Act of 1934 (“Exchange Act”) 22 [15 U.S.C. § 78m(a)] and Rules 12b-20, 13a-1, and 13a-11 [17 C.F.R. §§ 240.12b-20, 23 240.13a-1, 240.13a-11] by providing substantial assistance to an issuer that fails to 24 timely file with the Commission all accurate and complete information, documents, 25 and reports required by the rules and regulations prescribed by the Commission, or by 26 filing forms with the Commission containing false statements of material fact or 27 failing to include such further material information to make the required statements, 28 in light of the circumstances under which they were made, not misleading. 2 1 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as 2 provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also 3 binds the following who receive actual notice of this Final Judgment by personal 4 service or otherwise: (a) Defendant’s officers, agents, servants, employees, and 5 attorneys; and (b) other persons in active concert or participation with Defendant or 6 with anyone described in (a). III. 7 8 9 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant shall pay a civil penalty in the amount of $80,000 to the Securities and Exchange 10 Commission pursuant to Section 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and 11 Section 21(d)(3) of the Exchange Act [15 U.S.C. § 78u(d)]. Defendant shall satisfy 12 this obligation by paying $80,000 to the Securities and Exchange Commission within 13 30 days after entry of this Final Judgment. 14 Defendant may transmit payment electronically to the Commission, which will 15 provide detailed ACH transfer/Fedwire instructions upon request. Payment may also 16 be made directly from a bank account via Pay.gov through the SEC website at 17 http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified 18 check, bank cashier’s check, or United States postal money order payable to the 19 Securities and Exchange Commission, which shall be delivered or mailed to 20 Enterprise Services Center 21 Accounts Receivable Branch 22 6500 South MacArthur Boulevard 23 Oklahoma City, OK 73169 24 and shall be accompanied by a letter identifying the case title, civil action number, 25 and name of this Court; Jack D. Massimino as a defendant in this action; and 26 specifying that payment is made pursuant to this Final Judgment. 27 28 Defendant shall simultaneously transmit photocopies of evidence of payment and case identifying information to the Commission’s counsel in this action. By 3 1 making this payment, Defendant relinquishes all legal and equitable right, title, and 2 interest in such funds and no part of the funds shall be returned to Defendant. The 3 Commission shall send the funds paid pursuant to this Final Judgment to the United 4 States Treasury. Defendant shall pay post-judgment interest on any delinquent 5 amounts pursuant to 28 USC § 1961. IV. 6 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the 7 8 Consent is incorporated herein with the same force and effect as if fully set forth 9 herein, and that Defendant shall comply with all of the undertakings and agreements 10 set forth therein. V. 11 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for 12 13 purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 14 11 U.S.C. §523, the allegations in the complaint are true and admitted by Defendant, 15 and further, any debt for disgorgement, prejudgment interest, civil penalty or other 16 amounts due by Defendant under this Final Judgment or any other judgment, order, 17 consent order, decree or settlement agreement entered in connection with this 18 proceeding, is a debt for the violation by Defendant of the federal securities laws or 19 any regulation or order issued under such laws, as set forth in Section 523(a)(19) of 20 the Bankruptcy Code, 11 U.S.C. §523(a)(19). 21 VI. 22 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court 23 shall retain jurisdiction of this matter for the purposes of enforcing the terms of this 24 Final Judgment. 25 /// 26 /// 27 /// 28 /// 4 1 VII. 2 There being no just reason for delay, pursuant to Rule 54(b) of the Federal 3 Rules of Civil Procedure, the Clerk is ordered to enter this Final Judgment forthwith 4 and without further notice. 5 6 7 Dated: March 1, 2019 ____________________________________ UNITED STATES DISTRICT JUDGE 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 5
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