Securities and Exchange Commission v. Akazoo S.A., No. 1:2020cv08101 - Document 78 (S.D.N.Y. 2021)

Court Description: AGREED FINAL JUDGMENT: IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is liable for disgorgement of $38.8 million representing net profits gained as a result of the conduct alleged in the Complaint. Defendant's obligation to pay $38.8 million shall be deemed satisfied upon final approval of Defendants pending settlement agreements with investors in related private litigation, pursuant to which Defendant will pay $35 million and coordinate with investors in seeking potential additional recoveries. SeeIn re Akazoo S.A. Securities Litigation, Case No. 1:20-cv-01900-BMC (E.D.N.Y.) and Pareja, et al. v. Apostolos N. Zervos, et al., Case No. 2020CV337418 (Superior Court for the State of Georgia, Fulto n County). IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is incorporated herein with the same force and effect as if fully set forth herein, and that Defendant shall comply with all of the undertakings and agreements set forth t herein. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Stipulation and Order entered on October 23, 2020 (Dkt. No. 40) is vacated. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain jurisdiction of this matter for t he purposes of enforcing the terms of this Final Judgment. Motions terminated: 72 MOTION for Judgment Plaintiff's Unopposed Motion to Enter Agreed Final Judgment Against Defendant Akazoo S.A.. filed by Securities and Exchange Commission. (Signed by Judge Alvin K. Hellerstein on 10/27/2021) (vfr)