U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 18866 / September 2, 2004
SECURITIES AND EXCHANGE COMMISSION V. VECTOR MEDICAL TECHNOLOGIES, INC., MICHAEL H. SALIT, JAMES P. FARNELL, MICHAEL J. FARNELL, DAVID A. ZIMMERMAN AND STANLEY B. WASSER, CASE NO. 03-80858-CIV-HURLEY (S.D. Fla.)
JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANT STANLEY B. WASSER
The Securities and Exchange Commission ("SEC") announced that on August 23, 2004, the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction and Other Relief ("Judgment") against Defendant Stanley Wasser ("Wasser"). The Judgment, entered with Wasser's consent, enjoins him from violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, Sections 15(a) and 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Judgment also permanently bars Wasser from participating in a penny stock offering. In addition to injunctive relief, the Judgment provides for disgorgement, prejudgment interest and the imposition of a civil penalty in amounts to be reached by agreement of the parties and/or by the Court upon the SEC's motion.
For further information, see Litigation Releases No. 18348 (September 12, 2003) and No. 18810 (July 29, 2004).