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Litigation Release No. 20771 / October 6, 2008

Securities and Exchange Commission v. Concorde America, Inc., et al., Civil Action No. 05-80128-CIV-ZLOCH (S.D. Fla.)

Final Judgment Entered Against Defendant Paul Spreadbury

The Securities and Exchange Commission announced that on June 17, 2008, the United States District Court for the Southern District of Florida entered a Final Judgment of Disgorgement and Other Relief against Defendant Paul A. Spreadbury. The Final Judgment finds Spreadbury liable for disgorgement in the amount of $83,145.00 representing profits gained as a result of the conduct alleged in the Commission's complaint plus pre-judgment interest of $13,652.00. However, based upon Spreadbury's sworn representations in his Statement of Financial Condition and other documents and information submitted to the Commission, the Court does not order him to pay the disgorgement and prejudgment interest and does not impose a civil penalty. Previously, the Court entered a Judgment of Permanent Injunction and Other Relief against Spreadbury, by consent, which enjoined him from violations of Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934 and from participating in a penny stock offering.

For additional information, see Litigation Releases No. 19085 (February 16, 2005), No. 19948 (December 18, 2006), and No. 20078 (April 18, 2007).



Modified: 10/06/2008