U.S. Securities and Exchange Commission
Litigation Release No. 18769 / June 29, 2004
JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DAMIAN DELGADO
Securities and Exchange Commission v. James Mulhearn, Damian Delgado, and Adrian Balboa Case No. 03-61747-CIV-MARTINEZ (S.D.Fla.)
The Securities and Exchange Commission ("SEC") announced that on February 27, 2004, the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction and Other Relief ("Judgment") against Defendant Damian Delgado ("Delgado"). The Judgment, entered with Delgado's consent, without admitting or denying the allegations of the SEC's Complaint, enjoins him from violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, Sections 15(a)(1) and 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder. The Judgment also permanently bars Delgado from participating in an offering of penny stock. In addition to enjoining Delgado, the Judgment provides for disgorgement and the imposition of a civil money penalty in amounts to be reached by agreement of the parties and/or determined by the Court upon the SEC's motion.
For further information, see Litigation Release No. 18354 (September 22, 2003).