U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22689 / April 26, 2013
Securities and Exchange Commission v. InnoVida Holdings LLC, et al., Civil Action No. 12-cv-24326-Lenard
District Court Enters Judgment of Permanent Injunction and Other Relief Against Defendant Innovida Holdings LLC.
The Commission announced that on April 18, 2013, the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction by consent, against Defendant InnoVida Holdings, LLC enjoining it from violations of Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934 ("Exchange Act") and Sections 17(a) of the Securities Act of 1933 ("Securities Act"). United States District Judge Joan A. Lenard additionally ordered the Defendant be required to disgorge any ill-gotten gains with pre-judgment interest and to pay a civil penalty, with the amounts to be determined at a later date upon a motion of the Commission.
The Commission commenced this action by filing its Complaint on December 7, 2012, against InnoVida, Claudio E. Osorio and Craig Toll. The Complaint alleges violations of the antifraud provisions of the federal securities laws.
For more information on earlier actions in this case, see Litigation Release No. 22563 (Dec. 7, 2012).