U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20523 / April 8, 2008
Securities and Exchange Commission v. Homeland Communications Corporation, et al., Case No. 07-80802-CIV-MARRA/JOHNSON (S.D. Fla.)
The Securities and Exchange Commission announced that on December 19, 2007, the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction and Other Relief against Defendant Homeland Communications Corporation. The Judgment, entered by consent, enjoins the company 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 Judgment also provides for disgorgement and the imposition of a civil penalty 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 Homeland, Frances LaBarre and Joseph 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), Release No. 20384 (December 5, 2007).