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U.S. Securities and Exchange Commission


Litigation Release No. 20057 / March 27, 2007

SEC v. Eduardo A. Masferrer, Juan Carlos Bernacé and John M.R. Jacobs, Civil Action No. 03-22524-CIV-Jordan (S.D. Fla.)

Judgment of Permanent Injunction and Other Relief Entered Against Defendant Eduardo Masferrer and Monetary Claims Dismissed as to John M.R. Jacobs

The Securities and Exchange Commission announced that on March 8, 2007, the Honorable Adalberto Jordan, United States District Judge for the Southern District of Florida entered a Judgment of Permanent Injunction and Other Relief against Defendant Eduardo Masferrer. Masferrer consented to the entry of an injunction against future violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, aiding and abetting violations of Sections 13(a), 13(b)(2)(A), 13(b)(2)(B) of the Exchange Act and Rules 12b-20, 13a-1 and 13a-13 thereunder. In addition to injunctive relief, the Judgment permanently bars Masferrer 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 dismissed the Commission's claims against Masferrer for disgorgement and civil penalties.

Previously, on February 6, 2007, pursuant to the Commission's Motion, Judge Jordan dismissed the Commission's claims against John M.R. Jacobs for disgorgement and civil penalties without prejudice, based on Jacob's conviction and restitution order in the related criminal proceeding.

For additional information see Litigation Release No. 18363 (September 25, 2003); Litigation Release No. 18772 (June 30, 2004); and Litigation Release No. 19599 (March 8, 2006).



Modified: 03/27/2007