Securities and Exchange Commission v. Longfin Corp. et al, No. 1:2019cv05296 - Document 46 (S.D.N.Y. 2020)

Court Description: FINAL JUDGMENT AS TO DEFENDANT VENKATA S. MEENAVALLI: The Securities and Exchange Commission having filed a complaint and amended complaint (hereinafter "complaint") and Defendant VENKATA S. MEENAVALLI having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction and except as other wise provided herein in paragraph XII; waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment: IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendantis liable for disgorgement of $15 9,000.00, representing profits gained as a result of the conduct alleged in the complaint and prejudgment interest in the amount of $9,000.00, for a total amount of $168,000.00, and a civil penalty in the amount of $232,000 pursuant to Section 20(d) of theSecurities Act [15 U.S.C. § 77t(d)] and Section 2l(d) of the Exchange Act [15 U.S.C. § 78u(d)]. Defendant shall satisfy this obligation by paying $400,000 to the Securities and Exchange Commission pursuant to the t erms of the payment schedule set forth in paragraph X below. Defendant may transmit payment electronically to the Commission, which will provide detailed ACH transfer/Fedwire instructions upon request. Payment may also be made directly from a b ank account via Pay.gov through the SEC website at http://www.sec.gov/about/offices/ofm.htm. Defendant shall pay the total of disgorgement, prejudgment interest, and penalty due of $400,000.00 in four (4) installments according to the followin g schedule: (1) $250,000, within 30 days of entry of this Final Judgment; (2) $50,000 within 180 days following entry of this Final Judgment; (3) $50,000 within 270 days following entry of this Final Judgment; and (4) all remaining amounts due under this Final Judgment within 360 days following the entry of this Final Judgment. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. (And as further set forth herein.) (Signed by Judge Denise L. Cote on 1/3/2020) (jca) Transmission to Finance Unit (Cashiers) for processing.