In the Matter of Vinayak S. Gowrish
On December 29, 2011, the Securities and Exchange Commission issued an Order Making Findings and Imposing Remedial Sanctions Pursuant to Section 203(f) of the Investment Advisers Act of 1940 (Order) against Vinayak S. Gowrish, based on the entry of a permanent injunction in the civil action Securities and Exchange Commission v. Vinayak S. Gowrish, Civil Action Number 09-05883(SI) in the United States District Court for the Northern District of California.
On July 15, 2011, the United States District Court for the Northern District of California entered a final judgment permanently enjoining Gowrish from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.
The Commission’s complaint alleged that, from at least December 2006 through May 2007, Gowrish, in breach of a duty owed to his employer, misappropriated material nonpublic information from his employer in connection with TPG’s negotiations to acquire Sabre Holdings Corp. (Sabre), TXU Corp. (TXU), and Alliance Data Systems Corp. (ADS). The complaint further alleged that Gowrish tipped the confidential acquisition information to his long-time friend, Adnan Zaman. Zaman, in turn, tipped the information to their two friends, Pascal S. Vaghar and Sameer N. Khoury. On the basis of the information provided by Gowrish through Zaman, Vaghar and Khoury then traded Sabre, TXU, and ADS securities, realizing approximately $375,000 in illicit profits. The Commission’s complaint alleged that, in exchange for the confidential information, Vaghar provided cash kickbacks to both Gowrish and Zaman. On February 3, 2011, a federal jury found that Gowrish violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. On July 15, 2011, the district court entered a final judgment against Respondent Gowrish in which the court, in addition to permanently enjoining him from future violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, ordered him to pay disgorgement of $12,000 (and prejudgment interest thereon) and a $100,000 civil penalty. Respondent Gowrish has paid the ordered disgorgement (and prejudgment interest thereon) and civil penalty to the Commission in accordance with the court’s order.
Gowrish consented to the issuance of the Order without admitting or denying any of the findings in the Order except as to the entry of the final judgment, which he admitted. The Order bars him from association with any broker, dealer, investment adviser, municipal securities dealer, or transfer agent. (Rel. IA-3347; File No. 3-14552).
Delinquent Filers’ Stock Registrations Revoked
The registrations of the registered securities of Brendan Technologies, Inc., CenterStaging Corp., PGMI, Inc., and Trinity3 Corporation have been revoked. Each had repeatedly failed to file required annual and quarterly reports with the Securities and Exchange Commission. Thus, each violated a crucial provision of the federal securities laws that requires public corporations to publicly disclose current, accurate financial information so that investors may make informed decisions. The revocations were ordered in an administrative proceeding before an administrative law judge. (Rel. 34-66072; File No. 3-14656)
Commission Revokes Registration of Securities of Thermal Energy Storage, Inc. For Failure to Make Required Periodic Filings
On December 30, 2011, the Commission revoked the registration of each class of registered securities of Thermal Energy Storage, Inc. (THES) for failure to make required periodic filings with the Commission.
Without admitting or denying the findings in the Order, except as to jurisdiction, which it admitted, THES consented to the entry of an Order Making Findings and Revoking Registration of Securities Pursuant to Section 12(j) of the Securities Exchange Act of 1934 as to Thermal Energy Storage, Inc. finding that it had failed to comply with Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 13a-1 and 13a-13 thereunder and revoking the registration of each class of THES’s securities pursuant to Section 12(j) of the Exchange Act. This Order settled the charges brought against THES in In the Matter of Brendan Technologies, Inc., et al., Administrative Proceeding File No. 3-14656.
Brokers and dealers should be alert to the fact that Exchange Act Section 12(j) provides, in pertinent part, as follows:
For further information see Order Instituting Administrative Proceedings and Notice of Hearing Pursuant to Section 12(j) of the Securities Exchange Act of 1934, In the Matter of Brendan Technologies, Inc., et al., Administrative Proceeding File No. 3-14656, Exchange Act Release No. 65920 (December 9, 2011). (Rel. 34-66073; File No. 3-14656)
Initial Decision as to James Frankfurth
An Administrative Law Judge has issued an Initial Decision as to James Frankfurth (Frankfurth) in Peter Emrich, Admin. Proc. No. 3-14509. The Securities and Exchange Commission (Commission) issued its Order Instituting Proceedings (OIP) on August 18, 2011, pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act). The OIP alleges that on May 9, 2005, Respondent Frankfurth pled guilty to one count of conspiracy to commit securities fraud in violation of 18 U.S.C. § 371 before the United States District Court for the Eastern District of New York in United States v. Kozak, 02-CR-879. The Initial Decision finds it is in the public interest to bar Respondent James Frankfurth from association with any broker, dealer, investment adviser, municipal securities dealer, transfer agent; and from participating in any penny stock offering.
The proceeding was Stayed as to Respondents Peter Emrich, Alberto Ferreiras, Frank Rossi, and Dana Valensky pending Commission approval of their offers of settlement. (Initial Decision No. 446; File No. 3-14509)
Order Instituting Proceedings to Determine Whether to Disapprove Proposed Rule Change
The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Securities Exchange Act of 1934 to determine whether to disapprove proposed rule changes filed by BATS Exchange, Inc.; BATS Y-Exchange, Inc.; NASDAQ OMX BX, Inc.; Chicago Board Options Exchange, Incorporated; C2 Options Exchange, Incorporated; Chicago Stock Exchange, Inc.; EDGA Exchange, Inc.; EDGX Exchange, Inc.; Financial Industry Regulatory Authority, Inc.; International Securities Exchange LLC; The NASDAQ Stock Market LLC; New York Stock Exchange LLC; NYSE Amex LLC; NYSE Arca, Inc.; National Stock Exchange, Inc.; NASDAQ OMX PHLX LLC (SR-BATS-2011-038; SR-BYX-2011-025; SR-BX-2011-068; SR-CBOE-2011-087; SR-C2-2011-024; SR-CHX-2011-30; SR-EDGA-2011-31; SR-EDGX-2011-30; SR-FINRA-2011-054; SR-ISE-2011-61; SR-NASDAQ-2011-131; SR-NSX-2011-11; SR-NYSE-2011-48; SR-NYSEAmex-2011-73; SR-NYSEArca-2011-68; SR-Phlx-2011-129) related to trading halts due to extraordinary market volatility. Publication is expected in the Federal Register during the week of January 2. (Rel. 34-66065)
Immediate Effectiveness of Proposed Rule Change
A proposed rule change filed by Chicago Board Options Exchange, Incorporated (SR-CBOE-2011-127) to amend the CBOE Stock Exchange Fees Schedule has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of January 2. (Rel. 34-66067)
Approval of Proposed Rule Change
The Commission has approved a proposed rule change (SR-OCC-2011-13) filed by The Options Clearing Corporation (OCC) under Section 19(b)(2) of the Securities Exchange Act of 1934 relating to relative performance indexes. Publication is expected in the Federal Register during the week of January 2. (Rel. 34-66070)
The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue.
Registration statements may be viewed in person in the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. To obtain paper copies, please refer to information on the Commission's Web site at http://www.sec.gov/answers/publicdocs.htm. In most cases, you can view and download this information by using the search function located at http://www.sec.gov/edgar/searchedgar/companysearch.html.
S-1 Infantly Available, Inc., 2360 CORPORATE CIRCLE - SUITE 400, HENDERSON, NV, 89074-7722, 702.664.6472 - 3,000,000 ($75,000.00) Equity, (File 333-178788 - Dec. 29) (BR. ) S-1 AQUINO MILLING INC, MAUPLAS PINASLING, GERONA, TARLAC, R6, 2302, 866 655 7690 - 500,000 ($100,000.00) Equity, (File 333-178789 - Dec. 29) (BR. ) S-1 Edgen Group Inc., 18444 HIGHLAND ROAD, BATON ROUGE, X1, 70809, 2257569868 - 0 ($100,000,000.00) Equity, (File 333-178790 - Dec. 29) (BR. ) F-3ASR Gol Intelligent Airlines Inc., RUA TAMOIOS 246, JARDIM AEROPORTO, S?O PAULO, D5, 04630-000, 55 11 5033-4226 - 0 ($0.00) Equity, (File 333-178791 - Dec. 29) (BR. 05B) S-8 ENERGEN CORP, 605 RICHARD ARRINGTON JR BLVD N, BIRMINGHAM, AL, 35203-2707, 2053262997 - 0 ($150,270,000.00) Equity, (File 333-178794 - Dec. 29) (BR. 04B) S-8 IRVINE SENSORS CORP/DE/, 3001 REDHILL AVE, COSTA MESA, CA, 92626, 7145498211 - 0 ($100,000.00) Equity, (File 333-178795 - Dec. 29) (BR. 10B) S-3ASR CBRE GROUP, INC., 11150 SANTA MONICA BOULEVARD, SUITE 1600, LOS ANGELES, CA, 90025, 310-405-8900 - 0 ($0.00) Unallocated (Universal) Shelf, (File 333-178800 - Dec. 29) (BR. 08B) S-1 HomeTrust Bancshares, Inc., 10 WOODFIN STREET, ASHEVILLE, NC, 28801, 828-259-3939 - 19,573,000 ($195,730,000.00) Equity, (File 333-178817 - Dec. 29) (BR. ) S-3 FIELDPOINT PETROLEUM CORP, 1703 EDELWEISS DRIVE, STE 301, CEDAR PARK, TX, 78613, 5122508692 - 7,983,175 ($31,932,700.00) Equity, (File 333-178818 - Dec. 29) (BR. 04A) S-3 DELCATH SYSTEMS INC, 810 SEVENTH AVENUE, FL 35, NEW YORK, NY, 10019, 212-489-2100 - 0 ($100,000,000.00) Unallocated (Universal) Shelf, (File 333-178819 - Dec. 29) (BR. 10A) S-3 Primo Water Corp, 104 CAMBRIDGE PLAZA DRIVE, Winston Salem, NC, 27104, 336-331-4000 - 0 ($75,000,000.00) Unallocated (Universal) Shelf, (File 333-178820 - Dec. 29) (BR. 02) S-3 Ascent Solar Technologies, Inc., 12300 GRANT STREET, THORNTON, CO, 80241, (720) 872-5000 - 0 ($25,000,000.00) Equity, (File 333-178821 - Dec. 29) (BR. 10A)
Form 8-K is used by companies to file current reports on the following events:
8-K reports may be viewed in person in the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. To obtain paper copies, please refer to information on the Commission's Web site at http://www.sec.gov/answers/publicdocs.htm. In most cases, you can view and download this information by using the search function located at http://www.sec.gov/edgar/searchedgar/companysearch.html.
STATE NAME OF ISSUER CODE 8K ITEM NO. DATE COMMENT 99 CENTS ONLY STORES CA 8.01,9.01 12/29/11 ACACIA RESEARCH CORP DE 8.01 12/23/11 ACI WORLDWIDE, INC. DE 8.01,9.01 12/29/11 ADA-ES INC CO 8.01,9.01 12/27/11 ADVANCED ENERGY INDUSTRIES INC DE 1.01,1.02,9.01 12/28/11 AdvanSource Biomaterials Corp DE 1.01,1.02,2.01,9.01 12/29/11 AEP INDUSTRIES INC DE 2.01,9.01 10/14/11 AMEND ALSERES PHARMACEUTICALS INC /DE DE 1.01 12/22/11 AMERICAN DG ENERGY INC DE 5.02,9.01 12/29/11 AMR CORP DE 3.01,8.01,9.01 12/29/11 ANYTHINGIT INC DE 5.02,9.01 12/22/11 Apollo Commercial Real Estate Finance MD 2.03 12/22/11 APRICUS BIOSCIENCES, INC. NV 2.01,9.01 12/29/11 AROTECH CORP DE 2.05,2.06 12/29/11 AT&T INC. DE 8.01 12/27/11 Atrinsic, Inc. DE 1.01,1.02,8.01,9.01 12/28/11 Augme Technologies, Inc. DE 4.02 12/22/11 aVINCI MEDIA CORP DE 1.01,2.04,5.02 12/28/11 BAKERS FOOTWEAR GROUP INC MO 1.01,7.01,9.01 12/29/11 BARCLAY ROAD, INC. WY 5.02 12/24/11 BERKSHIRE HILLS BANCORP INC 8.01,9.01 12/28/11 Boston Therapeutics, Inc. DE 8.01 11/08/11 Bridgeline Digital, Inc. DE 2.02,9.01 12/29/11 BRINKS CO VA 5.02,9.01 12/22/11 BROADWAY FINANCIAL CORP \DE\ DE 8.01,9.01 12/28/11 CAGLES INC GA 2.03 12/22/11 CENTURY PROPERTIES FUND XIX CA 1.02 12/29/11 CFS BANCORP INC IN 7.01,9.01 12/28/11 Chelsea Therapeutics International, L DE 1.01,9.01 12/28/11 China Energy Recovery, Inc. DE 1.01 12/22/11 CHINA FUND INC MD 7.01,9.01 11/30/11 China Information Technology, Inc. 4.01,9.01 12/29/11 China Marketing Media Holdings, Inc. TX 1.01,2.01,9.01 12/23/11 CHOICE HOTELS INTERNATIONAL INC /DE DE 5.02 12/23/11 CIG WIRELESS CORP. NV 5.03 12/28/11 Clean Energy Fuels Corp. DE 3.02,9.01 12/28/11 COLONIAL PROPERTIES TRUST AL 7.01 12/27/11 Computer Graphics International Inc. NV 2.01,9.01 12/27/11 COMSTOCK RESOURCES INC NV 1.01,2.01,9.01 12/29/11 Cornerstone Core Properties REIT, Inc MD 1.01,2.01 12/22/11 DARA BioSciences, Inc. DE 5.02 12/27/11 DELCATH SYSTEMS INC DE 1.01,9.01 12/29/11 DIAMOND HILL INVESTMENT GROUP INC OH 8.01,9.01 12/29/11 Douglas Lake Minerals Inc. NV 8.01,9.01 12/22/11 DYAX CORP DE 8.01 12/26/11 DYNASIL CORP OF AMERICA NJ 2.02,9.01 12/29/11 Edgen Murray II, L.P. DE 7.01,9.01 12/29/11 EPIQ SYSTEMS INC MO 1.01,2.01,7.01,9.01 12/28/11 EQUITY RESIDENTIAL MD 8.01,9.01 12/29/11 Evercore Partners Inc. DE 2.01,7.01,9.01 12/29/11 Federal Home Loan Bank of Chicago X1 2.03 12/27/11 Federal Home Loan Bank of Cincinnati X1 2.03,9.01 12/27/11 Federal Home Loan Bank of New York X1 8.01,9.01 12/29/11 Federal Home Loan Bank of Pittsburgh PA 2.03,9.01 12/23/11 Federal Home Loan Bank of Topeka 2.03,9.01 12/27/11 FIRST FARMERS & MERCHANTS CORP TN 4.01,9.01 12/20/11 FIRST OTTAWA BANCSHARES INC DE 5.02 12/28/11 FIRST PLACE FINANCIAL CORP /DE/ DE 5.02,8.01 12/29/11 FIRST SECURITY GROUP INC/TN TN 5.02,9.01 12/22/11 FIRST SOLAR, INC. DE 5.02 12/28/11 AMEND FOCUS GOLD Corp 1.01,7.01,9.01 12/20/11 FRANKLIN STREET PROPERTIES CORP /MA/ 1.01,2.03,9.01 12/29/11 Fresh Harvest Products, Inc. NJ 1.01,3.02,9.01 11/15/11 FSP 50 South Tenth Street Corp 1.01,2.03,9.01 12/29/11 FUNCTION (X) INC. DE 1.01,9.01 12/23/11 GAMETECH INTERNATIONAL INC DE 1.01,2.01,9.01 12/22/11 GARDNER DENVER INC DE 4.01,9.01 12/22/11 GARMIN LTD V8 1.01,5.02,9.01 12/28/11 GENTOR RESOURCES, INC. FL 7.01 12/14/11 GIA INVESTMENTS CORP. NV 1.01,9.01 12/25/11 GLOBALWISE INVESTMENTS INC NV 8.01 12/20/11 GYRODYNE CO OF AMERICA INC NY 8.01,9.01 12/28/11 HERITAGE OAKS BANCORP CA 7.01,9.01 12/29/11 Higher One Holdings, Inc. DE 1.01 12/22/11 Hines Global REIT, Inc. MD 1.01,9.01 12/22/11 HINES REAL ESTATE INVESTMENT TRUST IN 8.01 12/29/11 Hoku Corp DE 1.01 12/27/11 III TO I MARITIME PARTNERS CAYMAN I L 1.01,2.03,9.01 12/22/11 IMAGE SENSING SYSTEMS INC MN 1.01,9.01 12/22/11 India Globalization Capital, Inc. MD 5.07,9.01 12/28/11 INFORMATICA CORP DE 8.01 12/23/11 Inland American Real Estate Trust, In MD 1.01,7.01,8.01,9.01 12/29/11 INTERNATIONAL FLAVORS & FRAGRANCES IN NY 8.01,9.01 12/29/11 INX Inc DE 5.07,8.01,9.01 12/29/11 IPASS INC DE 5.02 12/22/11 IVAX DIAGNOSTICS INC DE 1.01,9.01 12/29/11 JDA SOFTWARE GROUP INC DE 5.07 05/26/11 AMEND JOY GLOBAL INC DE 8.01,9.01 12/29/11 Kandi Technologies Corp DE 5.07 12/28/11 LAKELAND INDUSTRIES INC DE 7.01,9.01 12/28/11 LAZARE KAPLAN INTERNATIONAL INC DE 8.01 12/23/11 LIBERTY STAR URANIUM & METALS CORP. NV 3.02,9.01 12/13/11 MARSHALL EDWARDS INC DE 1.01,3.02,9.01 12/28/11 MDC PARTNERS INC A6 7.01,9.01 12/29/11 MERRILL LYNCH DEPOSITOR INC INDEXPLUS DE 8.01,9.01 12/20/11 METLIFE INC DE 5.02,9.01 12/24/11 MID AMERICA APARTMENT COMMUNITIES INC TN 5.02,9.01 12/27/11 MINN DAK FARMERS COOPERATIVE ND 8.01 12/27/11 MOHEGAN TRIBAL GAMING AUTHORITY 2.02,9.01 12/29/11 MS STRUCTURED TILES SERIES 2005-1 DE 1.01,9.01 12/23/11 MS STRUCTURED TILES SERIES 2006-1 DE 1.01,9.01 12/23/11 NEW YORK MORTGAGE TRUST INC MD 3.01 12/22/11 NewCardio, Inc. DE 5.02,5.03,9.01 12/22/11 NEWS CORP 8.01,9.01 12/29/11 NextMart Inc. DE 5.02 12/21/11 NORD RESOURCES CORP DE 8.01,9.01 12/28/11 NORMAN CAY DEVELOPMENT, INC. NV 8.01 12/22/11 NORTH SPRINGS RESOURCES CORP. NV 8.01 12/28/11 NORTHEAST COMMUNITY BANCORP INC X1 8.01,9.01 12/27/11 NORTHEAST UTILITIES MA 8.01 12/20/11 NSTAR/MA 8.01 12/20/11 NYSE Euronext DE 8.01 12/22/11 AMEND Opko Health, Inc. DE 2.01,3.01,7.01,9.01 12/29/11 ORBCOMM Inc. DE 1.01,8.01,9.01 12/23/11 ORCHARD SUPPLY HARDWARE STORES CORP DE 1.01,2.03,8.01,9.01 12/22/11 Orofino Gold Corp NV 5.02 12/22/11 PAR TECHNOLOGY CORP DE 1.01,8.01,9.01 12/23/11 PEOPLES BANCORP INC OH 1.01,9.01 12/29/11 PEREGRINE PHARMACEUTICALS INC DE 8.01,9.01 12/29/11 Platinum Studios, Inc. CA 5.02 12/29/11 Platinum Studios, Inc. CA 5.02 12/29/11 AMEND PPL Corp 8.01 12/22/11 RADIAN GROUP INC DE 5.02,9.01 12/23/11 Renewable Energy Group, Inc. 1.01,1.02,2.03,9.01 12/23/11 REX ENERGY CORP DE 1.01,2.03 12/22/11 ROWAN COMPANIES INC DE 7.01,9.01 12/29/11 SECURITY FEDERAL CORP SC 8.01,9.01 12/28/11 SELECTICA INC DE 3.03,9.01 12/28/11 Solar Power, Inc. CA 1.01,9.01 11/09/11 AMEND Star Gold Corp. NV 5.02,5.03 12/26/11 State Auto Financial CORP OH 5.02 12/22/11 STATER BROS HOLDINGS INC DE 8.01 12/21/11 Steadfast Income REIT, Inc. MD 1.01,2.01,2.03,9.01 12/22/11 STEEL DYNAMICS INC IN 8.01,9.01 12/27/11 STILLWATER MINING CO /DE/ DE 1.01,9.01 12/23/11 STRAYER EDUCATION INC MD 8.01,9.01 12/22/11 STREAMLINE HEALTH SOLUTIONS INC. DE 1.01,9.01 12/28/11 SUN RIVER ENERGY, INC CO 4.01,9.01 12/21/11 SUN RIVER ENERGY, INC CO 8.01 12/23/11 SUNRISE SENIOR LIVING INC DE 1.01 12/22/11 TAIWAN FUND INC DE 7.01,9.01 11/30/11 TCF FINANCIAL CORP DE 8.01,9.01 12/28/11 TearLab Corp DE 1.01,9.01 12/22/11 TECHPRECISION CORP 7.01,9.01 12/29/11 TPG Specialty Lending, Inc. DE 1.01,2.03 12/22/11 TRX INC/GA GA 1.01 12/23/11 Tuffnell Ltd. NV 8.01 12/26/11 TX Holdings, Inc. GA 1.01 12/10/11 U.S. RARE EARTHS, INC NV 5.02,9.01 12/19/11 UBS-Citigroup Commercial Mortgage Tru 9.01 12/29/11 UBS-Citigroup Commercial Mortgage Tru 9.01 12/29/11 UMPQUA HOLDINGS CORP OR 7.01 12/28/11 UNITED RENTALS INC /DE DE 1.01,8.01,9.01 12/28/11 VIRGIN MEDIA INC. DE 8.01 12/29/11 VISTAPRINT N.V. P7 1.01,2.01,3.02,9.01 12/27/11 Vyteris, Inc. NV 1.01,8.01 11/23/11 Western Refining, Inc. DE 2.01,8.01,9.01 12/29/11 Winland Ocean Shipping Corp TX 4.01,9.01 12/22/11 WIRED ASSOCIATES SOLUTIONS INC NV 1.01,2.01,3.02,4.01, 12/22/11 5.01,5.02,5.06,9.01 YA ZHU SILK, INC. NV 4.01,9.01 10/29/11