U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20129 / May 24, 2007
SEC v. Frederick David Jones and Mark Godden, Civil Action No. 1:04-CV-4385 (RWS) (S.D.N.Y.)
Mark Godden Settles Insider Trading Charges
The Securities and Exchange Commission announced today that on May 17, 2007, the Honorable Robert W. Sweet, United States District Judge for the Southern District of New York entered a final judgment against Mark Godden, the former vice president of Marketing of Spandex PLC, the United Kingdom subsidiary of Gerber Scientific, Inc. In its complaint against Godden, filed on June 11, 2004, the Commission alleged that Godden sold Gerber Scientific stock on the basis of material nonpublic information relating to Gerber Scientific's subsequent announcement that its earnings would likely be lower than expected.
Godden, a citizen of the United Kingdom, consented to the entry of the final judgment without admitting or denying the allegations in the Commission's complaint. In the final judgment, the Court permanently enjoined Godden from violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Exchange Act Rule 10b-5. The Court further ordered that Godden pay disgorgement of $39,000.
Previously, on April 21, 2005, the Court entered a final judgment against Godden's co-defendant Frederick David Jones. Jones consented to the entry of that final judgment.