U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19452 / November 2, 2005
Securities and Exchange Commission v. Uncommon Media Group, Inc., et al., Case No. 02-80770-CIV-HURLEY/LYNCH (S.D. FL)
COURT ENTERS JUDGMENT OF PERMANENT INJUNCTION AGAINST UNCOMMON MEDIA GROUP, INC. AND DEFAULT JUDGMENTS OF PERMANENT INJUNCTION AGAINST DEFENDANTS LAWRENCE GALLO AND DOUGLAS RASBERRY
The Securities and Exchange Commission announced that the Honorable Daniel T.K. Hurley of the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction by consent, against Defendant Uncommon Media Group, Inc., and default judgments of permanent injunction against Defendants Lawrence Gallo and Douglas Rasberry. On October 5, 2005, the Court entered an injunction against Uncommon Media enjoining it from violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Section 13(a) of the Exchange Act and Rules 12b-20 and 13a-1, and allowed the Court, upon the Commission's motion, to determine whether it is appropriate to order a civil penalty. On October 11, 2005, the Court enjoined Gallo from violating Sections 10(b), 13(d) and 16(a) of the Exchange Act and Rules 10b-5, 13d-1 and 16a-3(a) thereunder and from aiding and abetting or causing violations of Section 13(a) of the Exchange Act and Rules 13a-1 and 12b-20 thereunder, and enjoined Rasberry from violating Section 10(b) of the Exchange Act and Rule 10b-5 thereunder and from aiding and abetting or causing violations of Section 13(a) of the Exchange Act and Rules 13a-1 and 12b-20 thereunder, and reserved jurisdiction for ninety days to determine a specific civil money penalty amount.
In its Complaint the Commission charged Uncommon Media, Gallo and Rasberry with making materially false and misleading statements in filings with the Commission in violation of the federal securities laws.
For more information on earlier actions in this case, see Litigation Release No. 17685(August 15, 2002).