U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19440 / October 21, 2005
Securities and Exchange Commission v. Rhino Ecosystems, Inc., et al., Case No. 02-80768-CIV-HURLEY/LYNCH (S.D. FL)
COURT ENTERS FINAL JUDGMENT AGAINST CHARLES CINI AND GORDON NOVAK ORDERING EACH OF THEM TO PAY A $110,000 CIVIL PENALTY
The Securities and Exchange Commission announced that on October 11, 2005, the United States District Court for the Southern District of Florida entered Final Judgment against Charles Cini and Gordon Novak which orders each of them to pay a $110,000 civil penalty for making materially false and misleading statements and failing to disclose material information in filings with the Commission in violation of the federal securities laws. Previously, on June 9, 2005, the Court granted the Commission's motion to dismiss its claim for a civil penalty against Rhino Ecosystems, Inc. because it is defunct, administratively dissolved, and its stock registration has been revoked.
For more information on earlier actions in this case, see Litigation Release No. 17685 (August 15, 2002), Litigation Release No. 19070 (February 9, 2005), Litigation Release No. 19071 (February 9, 2005) and Litigation Release No. 19362 (September 6, 2005).