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U.S. Securities and Exchange Commission

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 19666 / April 25, 2006

SEC v. Garner Anthony, Civil Action No. CV-06-00195-DAE-KSC (D. Haw.)

The Securities and Exchange Commission announced that on April 13, 2006, the Honorable David Alan Ezra, United States District Judge for the District of Hawaii, entered a Final Judgment As To Defendant Garner Anthony, enjoining him from future violations of Section 14(e) of the Securities Exchange Act of 1934 and Rule 14e-3 thereunder. Anthony consented to the entry of the judgment without admitting or denying the allegations of the Commission's Complaint. The court ordered disgorgement and prejudgment interest against the defendant in the respective amounts of $50,900 and $4,163.01. The court also ordered the defendant to pay a civil penalty in the amount of $50,900.

The Commission's Complaint, filed on April 11, 2006, alleged that Anthony, while in possession of material nonpublic information concerning the 2004 tender offer from Cox Enterprises, Inc. ("Enterprises") to its publicly traded subsidiary Cox Communications, Inc. ("Cox"), instructed his broker to purchase 10,000 shares of Cox in an account that Anthony controlled. After Enterprises publicly announced its tender offer to Cox, the price of Cox shares increased substantially. Anthony thereafter sold all shares of Cox in accounts he controlled, resulting in illegal insider trading profits of $50,900. Anthony is the former chairman and chief executive officer of Enterprises.

 

http://www.sec.gov/litigation/litreleases/2006/lr19666.htm


Modified: 04/25/2006