U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21299 / November 16, 2009
COURT ENTERES DEFAULT JUDGMENT OF PERMANENT INJUNCTION AGAINST DEFENDANT WALL STREET COMMUNICATIONS, INC.
Securities and Exchange Commission v. Wall Street Communications, Inc., et al., Civil Action No. 8:09-CV-1046-T-30-T6W (M.D. Fla.)
The Securities and Exchange Commission announced that on September 8, 2009, the United States District Court for the Middle District of Florida entered an Order Granting the Commission's Motion for Default Judgment and Entering Judgment of Permanent Injunction and Other Relief against Defendant Wall Street Communications, Inc. The Judgment enjoins Wall Street from violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Sections 10(b), 15(a) and Rule 10b-5 of the Securities Exchange Act of 1934. The Judgment also orders Wall Street to pay disgorgement, plus prejudgment interest and a civil penalty in amounts to be determined by the Court upon the Commission's motion.
The Commission began this action by filing its complaint on June 5, 2009, against Wall Street, among others, charging them with securities fraud in connection with a series of stock manipulation schemes and a fraudulent, unregistered distribution of stock.
For additional information, see Litigation Release No. 21070 (June 5, 2009).