The Securities and Exchange Commission ("Commission") announced today that the Honorable Clarence Cooper of the United States District Court for the Northern District of Georgia has entered a final judgment against Michael J. Becker ("Becker") of Marietta, Georgia directing payment of disgorgement in the amount of $191,127, along with prejudgment interest thereon in the amount of $33,873, and waiving prejudgment interest in excess of that amount. Becker consented to the entry of the final judgment without admitting or denying the allegations of the Commission's complaint and first amended complaint. In an earlier order of October 11, 2001, Becker, who had served as Vista 2000, Inc.'s ("Vista") vice president of finance and administration, was permanently enjoined from further violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.
The Commission's complaint and first amended complaint alleged a wide-range of securities law violations, including that misstatements were made by Vista in filings with the Commission. The allegations against Becker included that he recorded various transactions at Vista in contravention of generally accepted accounting principles, and engaged in insider trading in Vista securities at a time when Vista's revenues, income, earnings per share, and assets were overstated.
See also: L.R. 18607 (March 3, 2004); L. R. 17824 (November 1, 2002); L.R. 17566 (June 17, 2002); L.R. 17211 (October 30, 2001); L.R. 17175 (October 5, 2001) and L.R. 17044 (June 21, 2001).