Securities and Exchange Commission v. Justin Robert King et al, No. 8:2020cv02398 - Document 77 (C.D. Cal. 2022)

Court Description: FINAL JUDGMENT AS TO RELIEF DEFENDANT SHANNON LEIGH KING by Judge James V. Selna, IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Relief Defendant is liable for disgorgement in the amount of $398,000, plus prejudgment interest thereon i n the amount of $11,037.98, which amounts shall be deemed satisfied by the funds currently in the possession of the Court-appointed Receiver in this action. Related to: Stipulation for Judgment 74 [See Judgment for further details.] (MD JS-6, Case Terminated). (es)

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Securities and Exchange Commission v. Justin Robert King et al Doc. 77 1 2 JS-6 3 4 5 6 7 8 9 10 UNITED STATES DISTRICT COURT 11 CENTRAL DISTRICT OF CALIFORNIA 12 Case No. SACV 20-02398 JVS (DFMx) 13 SECURITIES AND EXCHANGE COMMISSION, 14 Plaintiff, FINAL JUDGMENT AS TO RELIEF DEFENDANT SHANNON LEIGH KING 15 16 17 18 19 20 vs. JUSTIN ROBERT KING; AND ELEVATE INVESTMENTS LLC, Defendants, SHANNON LEIGH KING, Relief Defendant. 21 22 23 24 25 26 27 28 Dockets.Justia.com 1 The Securities and Exchange Commission having filed a Complaint and Relief 2 Defendant Shannon Leigh King having entered a general appearance; consented to 3 the Court’s jurisdiction over Relief Defendant and the subject matter of this action; 4 consented to entry of this Final Judgment without admitting or denying the 5 allegations of the Complaint (except as to jurisdiction and except as otherwise 6 provided herein in paragraph III; waived findings of fact and conclusions of law; and 7 waived any right to appeal from this Final Judgment: 8 9 I. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that 10 Relief Defendant is liable for disgorgement in the amount of $398,000, plus 11 prejudgment interest thereon in the amount of $11,037.98, which amounts shall be 12 deemed satisfied by the funds currently in the possession of the Court-appointed 13 Receiver in this action. 14 The Receiver shall hold the funds (collectively, the “Fund”) until further order 15 of this Court. The Receiver may propose a plan to distribute the Fund subject to the 16 Court’s approval, and the Court shall retain jurisdiction over the administration of 17 any distribution of the Fund. 18 19 II. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the 20 Consent is incorporated herein with the same force and effect as if fully set forth 21 herein, and that Defendant shall comply with all of the undertakings and agreements 22 set forth therein. 23 24 III. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for 25 purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 26 11 U.S.C. §523, the allegations in the complaint are true and admitted by Defendant, 27 and further, any debt for disgorgement, prejudgment interest, civil penalty or other 28 amounts due by Defendant under this Final Judgment or any other judgment, order, 1 1 consent order, decree or settlement agreement entered in connection with this 2 proceeding, is a debt for the violation of the federal securities laws or any regulation 3 or order issued under such laws, as set forth in Section 523(a)(19) of the Bankruptcy 4 Code, 11 U.S.C. §523(a)(19). 5 6 IV. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court 7 shall retain jurisdiction of this matter for the purposes of enforcing the terms of this 8 Final Judgment. 9 V. 10 There being no just reason for delay, pursuant to Rule 54(b) of the Federal 11 Rules of Civil Procedure, the Clerk is ordered to enter this Final Judgment forthwith 12 and without further notice. 13 14 15 16 Dated: January 24, 2022 ____________________________________ HON JAMES V. SELNA UNITED STATES DISTRICT JUDGE 17 18 19 20 21 22 23 24 25 26 27 28 2 PROOF OF SERVICE 1 2 I am over the age of 18 years and not a party to this action. My business address is: 3 U.S. SECURITIES AND EXCHANGE COMMISSION, 444 S. Flower Street, Suite 900, Los Angeles, California 90071 Telephone No. (323) 965-3998; Facsimile No. (213) 443-1904. 4 5 6 7 8 9 10 11 12 13 14 15 16 On January 21, 2022, I caused to be served the document entitled FINAL JUDGMENT AS TO RELIEF DEFENDANT SHANNON LEIGH KING on all the parties to this action addressed as stated on the attached service list: OFFICE MAIL: By placing in sealed envelope(s), which I placed for collection and mailing today following ordinary business practices. I am readily familiar with this agency’s practice for collection and processing of correspondence for mailing; such correspondence would be deposited with the U.S. Postal Service on the same day in the ordinary course of business. PERSONAL DEPOSIT IN MAIL: By placing in sealed envelope(s), which I personally deposited with the U.S. Postal Service. Each such envelope was deposited with the U.S. Postal Service at Los Angeles, California, with first class postage thereon fully prepaid. EXPRESS U.S. MAIL: Each such envelope was deposited in a facility regularly maintained at the U.S. Postal Service for receipt of Express Mail at Los Angeles, California, with Express Mail postage paid. HAND DELIVERY: I caused to be hand delivered each such envelope to the office of the addressee as stated on the attached service list. 18 UNITED PARCEL SERVICE: By placing in sealed envelope(s) designated by United Parcel Service (“UPS”) with delivery fees paid or provided for, which I deposited in a facility regularly maintained by UPS or delivered to a UPS courier, at Los Angeles, California. 19 17 20 21 22 23 24 ELECTRONIC MAIL: By transmitting the document by electronic mail to the electronic mail address as stated on the attached service list. E-FILING: By causing the document to be electronically filed via the Court’s CM/ECF system, which effects electronic service on counsel who are registered with the CM/ECF system. FAX: By transmitting the document by facsimile transmission. The transmission was reported as complete and without error. I declare under penalty of perjury that the foregoing is true and correct. 25 26 27 Date: January 21, 2022 /s/ Lynn M. Dean Lynn M. Dean 28 3 2 SEC v. Justin Robert King, et al. United States District Court—Central District of California Case No. 8:20-cv-02398-JVS-DFM 3 SERVICE LIST 1 4 5 6 7 8 9 10 11 12 13 14 Kyra E. Andrassy (by ECF) SMILEY WANG-EKVALL 3200 Park Center Drive, Suite 250 Costa Mesa, CA 92626 714-445-1000 Phone 714-445-1017 Fax kandrassy@swelawwfirm.com Counsel for Receiver for Defendant Elevate Investments LLC Michael J. Quinn, Esq. (by ECF) Vedder Price LLP 1925 Century Park East, Suite 1900 Los Angeles, CA 90067 mquinn@vedderprice.com Counsel for Justin King and Shannon King 15 16 17 18 19 20 21 22 23 24 25 26 27 28 4

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