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U.S. Securities and Exchange Commission

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 49720 / May 18, 2004

ADMINISTRATIVE PROCEEDING
File No. 3-11442


In the Matter of

ROBERT COURNOYER


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ORDER MAKING FINDINGS AND
IMPOSING REMEDIAL SANCTION
BY DEFAULT

The Securities and Exchange Commission ("Commission") instituted this proceeding on March 26, 2004, pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act"). Respondent Cournoyer received a copy of the Order Instituting Proceedings ("OIP") on April 1, 2004. The Division of Enforcement ("Division") filed a Motion For Entry Of A Default Order Against Robert Cournoyer ("Default Motion") on April 27, 2004.

I find Respondent Cournoyer in default because he did not answer the OIP and did not respond to the Default Motion within the time allowed. I find further that the following allegations in the OIP are true. See 17 C.F.R. 201.154(b), .155, .220.

At all relevant times Respondent Cournoyer acted as an unregistered broker-dealer in connection with his sales of GetAnswers, Inc. ("GetAnswers"), stock for which he received transaction-based compensation.

On March 4, 2004, a final judgment was entered by consent against Respondent Cournoyer, permanently enjoining him from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, Sections 10(b) and 15(a)(1) of the Exchange Act, and Rule 10b-5 thereunder, in SEC v. GetAnswers, Inc., Civil Action No. 03-20048-CIV-KING (S.D. Fla. 2004).

The Commission's amended complaint alleged that GetAnswers, which operated an Internet "knowledge management" service company, fraudulently raised approximately $7.5 million through a network of in-house sales representatives offering and selling GetAnswers' stock from its Aventura, Florida, offices. The complaint further alleged that GetAnswers, through its offering and marketing materials and/or sales representatives, made false representations and omissions to investors relating to, among other things, GetAnswers' president and chief executive officer's experience in starting successful Internet companies, GetAnswers' affiliation with a college, the use of investor proceeds, the safety and profitability of an investment in the company and its compliance with securities laws. The complaint charges Respondent Cournoyer and others with violating the securities registration, broker-dealer registration, and antifraud provisions of the federal securities laws in connection with their offer and sale of GetAnswers stock.

Ruling

Based on these findings and public interest considerations, I ORDER that Robert Cournoyer is barred from association with any broker or dealer pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934.

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Brenda P. Murray
Chief Administrative Law Judge

 

http://www.sec.gov/litigation/admin/34-49720.htm


Modified: 05/18/2004