U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19070 / February 9, 2005
Securities and Exchange Commission v. Rhino Ecosystems, Inc., et al., Case No. 02-80768-CIV-HURLEY/LYNCH (SD FL)
COURT ENTERS DEFAULT JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF AGAINST DEFENDANTS RHINO ECOSYSTEMS, INC. AND CHARLES CINI
The Securities and Exchange Commission announced that on January 13, 2005, the United States District Court for the Southern District of Florida entered a Default Judgment of Permanent Injunction and Other Relief against Defendants Rhino Ecosystems, Inc. and Charles Cini. The Commission alleged in its Complaint that Defendants and others made materially false and misleading statements and failed to disclose material information in filings with the Commission in violation of the federal securities laws.
The Default Judgment enjoins Defendants from violations of Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder and violation of Section 13(a) of the Exchange Act and Rule 12b-20 and 13a-1, thereunder as to Rhino. In addition to injunctive relief, the Default Judgment provides for the imposition of a civil penalty.
For more information on earlier actions in this case, see Litigation Release No. 17685 (August 15, 2002).