U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19886 / October 25, 2006
SEC v. U.S. Wind Farming, Inc., et al., Case No. 05 C 4259 (N.D. Ill., filed July 25, 2005)
On October 24, 2006, the Honorable Milton I. Shadur of the United States District Court for the Northern District of Illinois, Eastern Division, entered orders of Final Judgment, by consent, against U.S. Wind Farming, Inc. and William L. Telander. The Final Judgments permanently enjoin Wind Farming and Telander from violating Sections 5(a), (c), and 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Final Judgments also bar Wind Farming and Telander from participating in penny stock offerings. The Court ordered that Wind Farming is liable for disgorgement of $452,284.34 plus prejudgment interest in the amount of $57,240.63. However, payment of all but $38,487 of disgorgement and pre-judgment interest was waived, and the Court did not order a civil penalty, based on Wind Farming's sworn statement of financial condition. The Court ordered that Telander is also liable for disgorgement of $228,544.66 plus prejudgment interest in the amount of $28,924.37. However, payment of disgorgement and pre-judgment interest was waived, and the Court did not order a civil penalty, based on Telander's sworn statement of financial condition. The Court also ordered Telander to return any shares of Wind Farming stock in his possession, custody or control to Wind Farming, and ordered Wind Farming to cancel all shares that defendants in this matter are ordered to return.
For further information, see Litigation Release No. 19311 (July 26, 2005), No. 19546 (January 30, 2006), and No. 19802 (Aug. 11, 2006).