U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19599 / March 8, 2006
Securities and Exchange Commission v. Eduardo A. Masferrer, Juan Carlos Bernace and John M.R. Jacobs, Civil Action No. 03-22524-CIV-Jorda/Brow (S.D. Fla.)
Judgment of Permanent Injunction and Other Relief Entered Against Defendant John M.R. Jacobs
The United States Securities and Exchange Commission announced that on January 9, 2006, the Honorable Adalberto Jordan of the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction and Other Relief against Defendant John M.R. Jacobs. The Judgment, entered with consent of Jacobs, without admitting or denying the allegations of the SEC's complaint, enjoins him from violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, aiding and abetting in violation of Section 13(a) of the Exchange Act and Rules 12b-20, 13a-1 and 13a-13 thereunder, violation of Sections 13(b)(2)(A), 13(b)(2)(B) and 13(b)(2) of the Exchange Act and Rule 13b2-2 thereunder. In addition to injunctive relief, the Judgment permanently bars Jacobs from acting as an officer or director of any issuer registered with the Commission pursuant to Section 12 of the Exchange Act. The Judgment also provides for disgorgement and civil penalty in amounts to be determined by the Court upon the SEC's motion.
The SEC commenced this action by filing its complaint on September 25, 2003, against Jacobs, among others, alleging they violated the federal securities laws.
For additional information see Litigation Release No. 18363 (September 25, 2003).