SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16876 / January 30, 2001
SECURITIES AND EXCHANGE COMMISSION v. WILLIAM H. CLARK
The Securities and Exchange Commission today announced that it filed a civil action in the United States District Court for the District of Columbia against William H. Clark ("Clark") to enforce a Commission order entered against Clark that directed him to pay disgorgement, plus prejudgment interest, in the total amount of $37,215 and a civil penalty of $24,500.
On September 27, 1999, the Commission issued an Order instituting administrative proceedings against Clark, among others, alleging that he violated the antifraud provisions of the federal securities laws. The Order alleged that Clark recommended and sold shares of The Tracker Corporation of America ("Tracker") common stock to one of his customers without disclosing to that customer that he had been or would be compensated by a public relations firm that was promoting Tracker for inducing this client to buy the stock. In the Matter of Steven J. Erlsten, et al., Securities Act of 1933 Release No. 7744, Securities Exchange Act of 1934 Release No. 41919, Administrative Proceeding File No. 3-1033 (September 27, 1999).
On April 4, 2000, the Commission accepted Clark's executed Offer of Settlement in which he consented, without admitting or denying the Commission's findings, to the entry of an Order Making Findings and Imposing Remedial Sanctions ("Settlement Order"), and agreed to pay $61,715, within 30 days of the entry of the Settlement Order, representing full disgorgement, plus prejudgment interest, in the total amount of $37,215 and a civil penalty in the amount of $24,500.
On April 7, 2000, the Commission issued its Settlement Order. In the Matter of William H. Clark, Securities Act of 1933 Release No. 7847, Securities Exchange Act of 1934 Release No. 42650, Administrative Proceeding File No. 3-1033 (April 7, 2000). To date, Clark has not paid the $61,715 as provided for in the Order. Thus, the Commission filed this action to enforce its Order.http://www.sec.gov/litigation/litreleases/lr16876.htm