U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22709 / May 30, 2013
Securities and Exchange Commission v. MedLink International, Inc., Aurelio Vuono, and James Rose, Civil Action No. 12-CV-5325 (EDNY) (LDW)
District Court Enters Judgment Against Medical Software Company and Its CEO and CFO
The Securities and Exchange Commission announced today that on May 23, 2013, the U.S. District Court for the Eastern District of New York entered default judgments against MedLink International, Inc., a medical software company, its CEO, Aurelio Vuono, and its CFO, James Rose. The Commission had charged them with filing an annual report falsely stating that its audit had been completed and with defrauding a MedLink investor. The court ordered permanent injunctions from violating Section 17(a) of the Securities Act of 1933, Sections 10(b) and 15(d) of the Securities Exchange Act of 1934 and Rules 10b-5, 12b-20, 15d-1 and 15d-14. The court also ordered each defendant to disgorge, jointly and severally, $149,473/50, representing their illicit profits, together with pre-judgment interest of $8,942.48, for a total of $158,415.98. In addition, the court ordered civil penalties of $650,000 against MedLink, $130,000 against Vuono, and $130,000 against Rose. Finally, the court barred Vuono and Rose from penny stock offerings or severing as an officer or director of a public company.
For further information about the case, see Litigation Release No. 22521 (Oct. 26, 2012).