U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21771 / December 13, 2010
FINAL JUDGMENTS ENTERED AGAINST DEFENDANTS MERCER CAPITAL, INC., MERCER CAPITAL MANAGEMENT, INC., TRI-STATE ENERGY GROUP, LLC, TRI-STATE ENERGY GROUP I, LTD., TRI-STATE ENERGEY GROUP II, LTD., AND ROBERT L. FLICKINGER II
Securities and Exchange Commission v. Mercer Capital, Inc, et al., Case No. 06-81080-Middlebrooks/Johnson (S.D. Fla.)
The Securities and Exchange Commission announced that on June 29, 2010, and December 3, 2008, the United States District Court for the Southern District of Florida entered Final Judgments against defendants Mercer Capital, Inc., Mercer Capital Management, Inc., Tri-State Energy Group, LLC, Tri-State Energy Group I, LTD., Tri-State Energy Group II, LTD. (collectively, the Defendant Entities), and Robert L. Flickinger II, respectively. The Final Judgments, entered by consent, enjoin the Defendant Entities and Flickinger 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 Final Judgment against Flickinger permanently bars him from serving as an officer or director of a public company, and from participating in any future penny stock offerings. It also orders him to pay disgorgement in the amount of $543,622.88, together with prejudgment interest of $65,128.41 and imposes a civil penalty in the amount of $130,000. The Court also dismissed the Commission's claims for disgorgement and civil penalties against the Defendant Entities, which are defunct.
On November 21, 2006 the Commission filed an emergency action to halt an ongoing offering fraud involving the sale of oil and gas limited partnerships interests and investments in a private placement of a former commodities broker-dealer, Mercer Capital, Inc., and its principal Robert Flickinger II and sales agents he directed. The complaint alleged that Flickinger and the sales agents raised at least $2 million from investors through three securities offerings.
For additional information, see Litigation Release No. 19924 (November 22, 2006).