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Litigation Release No. 20384 / December 5, 2007

Securities and Exchange Commission v. Homeland Communications Corporation, et al., Case No. 07-80802-CIV-MARRA/JOHNSON (S.D. Fla.)

Judgments of Permanent Injunction and Other Relief Entered Against Defendants Frances M. LaBarre And Joseph Yurkin

The Securities and Exchange Commission announced that on November 19, 2007, the United States District Court for the Southern District of Florida entered Judgments of Permanent Injunction and Other Relief against Defendants Frances M. LaBarre and Joseph Yurkin. The Judgments, entered with the consents of LaBarre and Yurkin, without admitting or denying the Complaint's allegations, enjoin them from violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The Judgments permanently bar LaBarre and Yurkin from participating in a penny stock offering. Additionally, the Judgments provide for disgorgement and the imposition of civil penalties in amounts to be determined by the Court upon the Commission's motion.

The Commission commenced this action by filing its complaint on September 5, 2007, against LaBarre and Yurkin, among others, alleging the defendants violated the registration and antifraud provisions of the federal securities laws.

For additional information, see Litigation Release No. 20271 (September 6, 2007).



Modified: 12/05/2007