U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19017 / December 29, 2004
Securities and Exchange Commission v. Hershey Moss, Case No. C 04-2683-JL (N.D. Cal.)
COURT ENTERS JUDGMENT IN FALSE REGISTRATION CASE
The Securities and Exchange Commission announced that on December 28, 2004, United States District Judge Fern Smith in San Francisco entered judgment against Hershey Moss of St. Louis. The judgment enjoined Moss from future violations of the antifraud provisions of the securities laws and imposed a $25,000 civil penalty.
On July 6, 2004, the Commission filed a civil complaint against Moss, alleging that he misrepresented the business plan for his company, National Pizza Corporation, in the company's registration statement for its initial public offering. The Commission alleged that Moss falsely portrayed National Pizza as a legitimate start-up company, when in fact Moss intended to merge the company with a privately-held company for compensation. Moss consented to the entry of judgment against him without admitting or denying the allegations of the Commission's complaint.
The Commission's complaint was brought under Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.