U.S. Securities and Exchange Commission
Litigation Release No. 18808 / July 29, 2004
FINAL JUDGMENT OF PERMANENT INJUNCTION ENTERED AGAINST DEFENDANT PHILIP R. GRATZ
Securities and Exchange Commission v. Philip R. Gratz, Case No. 03-20889-CIV-JORDAN/BANDSTRA (S.D. Fla.)
The Securities and Exchange Commission ("SEC") announced that on June 1, 2004, the United States District Court for the Southern District of Florida entered a Final Judgment of Permanent Injunction and Other Relief ("Final Judgment") against Defendant Philip R. Gratz ("Gratz"). The Final Judgment, entered with Gratz's consent, without admitting or denying the allegations of the SEC's Complaint, enjoins him from violations of Sections 15(a) and 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940. In addition to injunctive relief, the Final Judgment orders Gratz to pay a civil penalty in the amount of $120,000.
For further information, see Litigation Release No. 18094 (April 18, 2003).