In the Matter of Cory A. Martin
On January 13, 2012, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (Order) against Cory A. Martin (Martin). The Order finds that Martin was Chief Investment Officer of Jadis Capital, Inc. (Jadis Capital), a New York corporation. The offering documents, drafted in part by Martin, claim that Martin was a controlling member of Jadis Investments, LLC (Jadis Investments), a Delaware limited liability company and Uniondale, Long Island-based investment adviser registered with the Commission. Jadis Capital was the sole owner of Jadis Investments.
The Order further finds that Martin pled guilty to conspiracy to commit securities fraud, in violation of Title 18 United States Code, Section 371 before the United States District Court for the Eastern District of New York. On September 24, 2010, a judgment was entered against Martin. He was sentenced to six months of home detention, five years probation, and 150 hours of community service and ordered to make restitution in the amount of $3,303,207.99.
Based on the above, the Order bars Martin from association with any investment adviser. Martin consented to the issuance of the Order without admitting or denying any of the findings in the Order, except for the Commission’s jurisdiction over him and the subject matter of the proceedings and his criminal conviction, which he admitted. (Rel. IA-3351; File No. 3-14691)
In the Matter of Clifton Oram, Don Winkler, and William Michael
On January 13, 2012, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions against Clifton Oram, a resident of Utah, and against Don Winkler, a resident of California (Oram and Winkler Orders), based on the entry of a permanent injunction against them in the civil action entitled Securities and Exchange Commission v. Clifton K. Oram, et al., Civil Action No. 2:10-01173-DB in the United States District Court for the District of Utah. The Commission also announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions against William Michael (Michael Order), a resident of California, based on the entry of a permanent injunction against him in the above-referenced civil action.
In the Oram and Winkler Orders, and in the Michael Order (collectively, Orders), the Commission finds that, on December 22, 2011, an agreed permanent injunction was entered against Oram, Winkler, and Michael, permanently enjoining them from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder. The Commission further finds in the Orders that the Commission filed a Complaint against Oram, Winkler, and Michael, alleging that, between 2006 and the end of 2008, Oram, Winkler, and Michael induced investors to invest in a fraudulent foreign currency trading offering conducted by MexGroup, a Mexican entity, and that MexGroup ultimately raised at least $50 million in the offering. According to the Complaint, Oram, Winkler, and Michael failed to conduct an adequate due diligence inquiry into MexGroup, its principals, and its purported investment.
Based on the above, the Orders bar Oram, Winkler, and Michael from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent or nationally recognized statistical rating organization; the Orders also bar Oram, Winkler, and Michael from participating in any offering of a penny stock. In consenting to the entry of the Orders, Oram, Winkler, and Michael each admitted his respective Order’s finding as to the entry of the injunction against him, and its findings that the Commission has jurisdiction over him and over the matters set forth in his respective Order; Oram, Winkler, and Michael did not, however, admit any of the other findings in their respective Orders. (Rel. 34-66150; File No. 3-14692; 34-66151; File No. 3-14693; 34-66152; IA-3352; File No. 3-14694)
In the Matter of Sarang Ahuja
On January 13, 2012, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions (Order) against Sarang Ahuja. The Order finds that Ahuja is a registered representative who was associated with broker-dealers registered with the Commission from 2002 until 2008.
On February 16, 2010, the Commission filed a complaint against Ahuja in SEC v. Steven Scoppetuolo, et al., (Civil Action No. 10-cv-20475). On December 2, 2011, the Court entered an order permanently enjoining Ahuja, by consent, from future violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Court also imposed a civil penalty and disgorgement to be determined based upon the Commission’s motion.
The Commission’s complaint alleged, among other things, that Ahuja engaged in illegal insider trading in the securities of World Fuel Services Corporation (World Fuel). Ahuja received a tip from his client, Robert Tocci, and/or World Fuel employee, Steven Scoppetuolo, about World Fuel’s worse-than-expected earnings in advance of World Fuel’s May and August 2007 earnings announcements. Before the announcements, Ahuja purchased put options for himself, his family members, and his clients. After the announcements, Ahuja sold the put options for profits.
Based on the above, the Order bars Sarang Ahuja from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization. Ahuja consented to the issuance of the Order without admitting or denying any of the findings except he admitted the entry of the injunction. (Rel. 34-66154; File No. 3-14695)
Immediate Effectiveness of Proposed Rule Change
A proposed rule change filed by C2 Options Exchange, Incorporated (SR-C2-2012-002) to amend the Fees Schedule has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of January 16. (Rel. 34-66140)
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-8 EdgeWave, Inc., 15333 AVENUE OF SCIENCE, SAN DIEGO, CA, 92128, 858-676-2277 - 268,716 ($53,743.00) Equity, (File 333-178978 - Jan. 12) (BR. 03C) S-B JAMAICA GOVERNMENT OF, 30 NATIONAL HEROES CIRCLE, KINGSTON 4, L8, 9999999999, 876-932-5400 - 0 ($1,000,000,000.00) Non-Convertible Debt, (File 333-178979 - Jan. 12) (BR. DN) S-1 MRC GLOBAL INC., 2 HOUSTON CENTER, 909 FANNIN, SUITE 3100, HOUSTON, TX, 77010, 877.294.7574 - 0 ($100,000,000.00) Equity, (File 333-178980 - Jan. 12) (BR. 06C) S-3 ARCA biopharma, Inc., 8001 ARISTA PLACE, SUITE 200, BROOMFIELD, CO, 80021, 720-940-2200 - 2,916,666 ($2,887,499.34) Equity, (File 333-178984 - Jan. 12) (BR. 01B) S-3 Marina Biotech, Inc., 3830 MONTE VILLA PARKWAY, BOTHELL, WA, 98021, 4259083600 - 0 ($5,100,000.00) Equity, (File 333-178985 - Jan. 12) (BR. 01B) S-8 SHUTTERFLY INC, 2800 BRIDGE PARKWAY, REDWOOD CITY, CA, 94065, 650-610-5200 - 1,149,683 ($27,764,844.00) Equity, (File 333-178986 - Jan. 12) (BR. 11C) S-1 SPLUNK INC, 250 BRANNAN STREET, SAN FRANCISCO, CA, 94107, 415-848-4800 - 0 ($125,000,000.00) Equity, (File 333-178988 - Jan. 12) (BR. ) S-1 Cinco Resources, Inc., 2626 HOWELL STREET, SUITE 800, DALLAS, TX, 75204, 214-520-7727 - 0 ($172,500,000.00) Equity, (File 333-178990 - Jan. 12) (BR. )
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 AAA Best Car Rental Inc NV 1.01,5.01,5.02,9.01 01/04/12 ACACIA RESEARCH CORP DE 5.02 01/12/12 AEMETIS, INC NV 1.01,2.03,9.01 01/06/12 AGILYSYS INC OH 2.02,7.01,8.01,9.01 01/12/12 ALBANY INTERNATIONAL CORP /DE/ DE 2.01,8.01,9.01 01/12/12 ALCOA INC PA 2.02,9.01 01/09/12 ALLIANCEBERNSTEIN HOLDING L.P. DE 7.01,9.01 01/11/12 ALLIANCEBERNSTEIN L.P. DE 7.01,9.01 01/11/12 AMEDISYS INC DE 7.01,9.01 01/12/12 American Realty Capital Properties, I MD 2.01,2.03,8.01,9.01 01/10/12 AMERIGAS PARTNERS LP DE 8.01,9.01 01/12/12 AMERIGROUP CORP 8.01,9.01 01/12/12 APOLLO GROUP INC AZ 5.07 01/09/12 APPLIED MICRO CIRCUITS CORP DE 5.07 08/16/11 AMEND Approach Resources Inc DE 7.01,9.01 01/12/12 Artio Global Investors Inc. DE 7.01,9.01 01/12/12 ASTORIA FINANCIAL CORP DE 8.01,9.01 01/12/12 BANK OF SOUTH CAROLINA CORP SC 2.02,9.01 01/12/12 BANKATLANTIC BANCORP INC FL 2.04,8.01 01/06/12 BIOVEST INTERNATIONAL INC DE 7.01,9.01 01/12/12 Bitzio, Inc. NV 5.02 01/12/12 Bitzio, Inc. NV 3.02,9.01 01/06/12 Bitzio, Inc. NV 1.01,2.01,3.02,9.01 01/06/12 BLUE SPHERE CORP. NV 5.02,9.01 01/09/12 BRAINY BRANDS COMPANY, INC. DE 1.01,2.03,9.01 01/09/12 BRANDYWINE REALTY TRUST MD 7.01,8.01,9.01 12/20/11 BROWN & BROWN INC FL 1.01,1.02,2.01,2.03, 01/09/12 7.01,9.01 BUCKEYE TECHNOLOGIES INC DE 2.05,2.06,7.01,9.01 01/12/12 CARDICA INC DE 2.02,8.01 01/12/12 CARPENTER TECHNOLOGY CORP DE 8.01,9.01 01/12/12 CELL THERAPEUTICS INC WA 5.02 01/07/12 CHARMING SHOPPES INC PA 7.01,9.01 01/12/12 CHUGACH ELECTRIC ASSOCIATION INC AK 2.03 01/11/12 COLONY RESORTS LVH ACQUISITIONS LLC NV 1.03,6.05 01/12/12 Columbia Seligman Premium Technology MD 7.01 01/11/12 Computer Software Innovations, Inc. DE 1.01 01/06/12 CONAGRA FOODS INC /DE/ DE 2.03 01/10/12 CONCHO RESOURCES INC DE 5.02,9.01 01/10/12 Conmed Healthcare Management, Inc. DE 8.01,9.01 01/11/12 CORNERSTONE THERAPEUTICS INC DE 5.02 12/01/11 AMEND CORPORATE OFFICE PROPERTIES TRUST MD 7.01,9.01 01/12/12 CROWN CASTLE INTERNATIONAL CORP DE 8.01,9.01 01/12/12 CUBIST PHARMACEUTICALS INC DE 2.02,9.01 01/09/12 CUI Global, Inc. CO 1.01 01/09/12 Cytosorbents Corp 7.01,9.01 01/11/12 DATARAM CORP NJ 5.02 01/09/12 DENBURY RESOURCES INC DE 5.02,9.01 01/06/12 DENMARK BANCSHARES INC WI 5.02 01/10/12 DICKS SPORTING GOODS INC DE 7.01,8.01,9.01 01/12/12 DORCHESTER MINERALS, L.P. DE 2.02,7.01,9.01 01/12/12 EATON VANCE CORP MD 5.07 01/11/12 ecoTECH Energy Group Inc. NV 5.02 12/16/11 ELECTRONIC ARTS INC. DE 8.01,9.01 01/12/12 Entergy Louisiana, LLC TX 8.01,9.01 01/12/12 ERHC Energy Inc CO 8.01,9.01 01/11/12 Federal Home Loan Bank of Atlanta X1 2.03 01/12/12 Federal Home Loan Bank of Boston X1 2.03 01/10/12 Federal Home Loan Bank of Chicago X1 2.03 01/09/12 Federal Home Loan Bank of Cincinnati X1 2.03,9.01 01/09/12 Federal Home Loan Bank of Des Moines X1 2.03,9.01 01/10/12 Federal Home Loan Bank of Indianapoli X1 2.03,9.01 01/12/12 Federal Home Loan Bank of Pittsburgh PA 2.03,9.01 01/09/12 Federal Home Loan Bank of San Francis X1 2.03 01/09/12 Federal Home Loan Bank of Topeka 2.03,9.01 01/09/12 FIELDPOINT PETROLEUM CORP CO 7.01,9.01 01/12/12 First Connecticut Bancorp, Inc. MD 8.01,9.01 01/12/12 First Financial Northwest, Inc. WA 1.01,5.02,5.03,9.01 01/11/12 First Trinity Financial CORP 8.01,9.01 01/11/12 FNBH BANCORP INC MI 4.02 01/06/12 FOUR RIVERS BIOENERGY INC. NV 1.01 05/24/11 AMEND FOX PETROLEUM INC. NV 2.01 01/11/12 FriendFinder Networks Inc. NV 3.01 01/06/12 FSP PHOENIX TOWER CORP 1.01,9.01 01/12/12 General Maritime Corp / MI 1.01 01/07/12 General Motors Co 8.01 01/04/12 General Motors Financial Company, Inc TX 1.01,9.01 01/11/12 GenOn Energy, Inc. DE 5.02 01/10/12 GEORESOURCES INC CO 2.02,5.02,9.01 01/06/12 GLOBALSCAPE INC DE 7.01 01/12/12 Google Inc. DE 5.02,9.01 01/11/12 Granite Falls Energy, LLC MN 7.01,9.01 01/11/12 Griffin-American Healthcare REIT II, MD 8.01 01/11/12 GYRODYNE CO OF AMERICA INC NY 8.01,9.01 01/11/12 HAMPTON ROADS BANKSHARES INC VA 7.01,9.01 01/12/12 HARBINGER GROUP INC. DE 5.02,8.01 01/09/12 HEALTH DISCOVERY CORP 2Q 1.01,9.01 01/06/12 HEALTH ENHANCEMENT PRODUCTS INC 8.01 01/12/12 HEALTH MANAGEMENT ASSOCIATES INC DE 9.01 11/18/11 AMEND HealthSpring, Inc. DE 5.07,8.01,9.01 01/12/12 HICKORY TECH CORP MN 7.01,9.01 01/12/12 Higher One Holdings, Inc. DE 1.01,5.02,7.01,9.01 01/09/12 HIGHWOODS PROPERTIES INC MD 2.03,9.01 01/11/12 Home Federal Bancorp, Inc. of Louisia LA 5.02,7.01,9.01 01/11/12 HOOKER FURNITURE CORP VA 5.02 01/11/12 Horizon Lines, Inc. 8.01,9.01 01/11/12 HUGHES Telematics, Inc. DE 8.01 01/12/12 ICAHN ENTERPRISES L.P. DE 7.01 01/10/12 Inland American Real Estate Trust, In MD 7.01,9.01 01/12/12 INNOVATIVE SOFTWARE TECHNOLOGIES INC CA 1.01,9.01 01/10/12 INTEGRATED BIOPHARMA INC 1.01,9.01 01/09/12 INTEGRATED SECURITY SYSTEMS INC DE 2.01 01/06/12 INTEGRATED SURGICAL SYSTEMS INC DE 4.01,9.01 01/12/12 INTERSECTIONS INC DE 2.02,8.01,9.01 11/09/11 Invesco Ltd. D0 7.01,9.01 01/11/12 Investors Bancorp Inc DE 2.01,9.01 01/06/12 JDA SOFTWARE GROUP INC DE 2.02,9.01 01/12/12 JEFFERSON BANCSHARES INC TN 8.01 01/11/12 JONES SODA CO WA 2.02,7.01,9.01 01/12/12 KAPSTONE PAPER & PACKAGING CORP DE 9.01 10/31/11 AMEND KEATING CAPITAL INC 7.01,9.01 01/11/12 KEYCORP /NEW/ OH 8.01,9.01 01/12/12 KRANEM CORP CO 1.01,2.01,3.02,4.01, 01/12/12 AMEND 5.01,5.02,5.06,9.01 LEGGETT & PLATT INC MO 2.03,7.01,9.01 01/10/12 Liberator, Inc. FL 7.01,9.01 01/11/12 Longhai Steel Inc. NV 5.02,8.01,9.01 01/12/12 Magnolia Solar Corp NV 7.01,9.01 01/12/12 MATERIAL SCIENCES CORP DE 2.02,9.01 01/12/12 Medical Billing Assistance, Inc. CO 5.02 01/06/12 MERIDIAN BIOSCIENCE INC OH 8.01 01/11/12 METABOLIX, INC. 1.02,2.05,7.01,9.01 01/09/12 MGT CAPITAL INVESTMENTS INC DE 8.01,9.01 01/09/12 MRV COMMUNICATIONS INC DE 5.02,5.07 01/06/12 Neogenix Oncology Inc MD 8.01,9.01 01/12/12 Neogenix Oncology Inc MD 5.02 01/12/12 AMEND NeoStem, Inc. DE 8.01,9.01 01/12/12 Neuralstem, Inc. DE 7.01,9.01 01/10/12 Nevada Property 1 LLC DE 5.02 01/12/12 New York & Company, Inc. 7.01,9.01 01/12/12 NovaBay Pharmaceuticals, Inc. CA 1.01 01/09/12 Onstream Media CORP FL 7.01,8.01,9.01 01/12/12 OPTIMER PHARMACEUTICALS INC 5.02 01/10/12 OYO GEOSPACE CORP DE 8.01,9.01 01/12/12 PALL CORP NY 5.02 01/10/12 PENFORD CORP WA 1.01,9.01 11/08/11 AMEND PEOPLES EDUCATIONAL HOLDINGS MN 2.02,9.01 01/12/12 PERCEPTRON INC/MI MI 1.01,9.01 01/06/12 Pharmasset Inc 5.01,5.02 01/12/12 PINNACLE WEST CAPITAL CORP AZ 9.01 01/10/12 PREMIER EXHIBITIONS, INC. FL 2.02,9.01 01/11/12 AMEND PROVIDENT FINANCIAL HOLDINGS INC DE 1.01,9.01 01/12/12 PS BUSINESS PARKS INC/CA CA 1.01,3.03,5.03,9.01 01/10/12 PS BUSINESS PARKS INC/CA CA 8.01,9.01 01/12/12 QUAINT OAK BANCORP INC 7.01,9.01 01/11/12 Rackwise, Inc. NV 5.02 01/06/12 RAYMOND JAMES FINANCIAL INC FL 7.01,9.01 01/11/12 RAYMOND JAMES FINANCIAL INC FL 1.01,9.01 01/11/12 RDA Holding Co. 5.02 01/09/12 RED MOUNTAIN RESOURCES, INC. FL 1.01,2.01,2.03,3.02, 05/26/11 AMEND 5.01,5.02,5.03,5.06, 9.01 RED MOUNTAIN RESOURCES, INC. FL 3.02,9.01 11/04/11 AMEND REGIONS FINANCIAL CORP DE 1.01,9.01 01/11/12 RESOURCE AMERICA, INC. DE 1.01,5.02,9.01 01/09/12 RoomStore, Inc. VA 5.02 01/09/12 Rovi Corp DE 2.02 01/12/12 ROYAL GOLD INC DE 1.01,9.01 01/10/12 Ruths Hospitality Group, Inc. DE 7.01,9.01 01/12/12 SCANSOURCE INC SC 5.02,9.01 01/12/12 SCHOOL SPECIALTY INC WI 5.02,7.01,9.01 01/12/12 SERVICEMASTER CO DE 7.01 01/12/12 SEYCHELLE ENVIRONMENTAL TECHNOLOGIES NV 8.01,9.01 01/12/12 AMEND SHUTTERFLY INC DE 5.02,9.01 01/06/12 SOFTECH INC MA 2.02,9.01 01/11/12 Solo International, Inc NV 1.01,2.03,3.02,9.01 01/10/12 Soton Holdings Group, Inc. NV 4.01,9.01 12/15/11 AMEND Spirit Airlines, Inc. DE 2.02,7.01,9.01 01/12/12 STARBUCKS CORP WA 7.01,9.01 01/12/12 StellarOne CORP VA 9.01 01/12/12 STRATS (SM) TRUST FOR JPMORGAN CHASE 8.01,9.01 01/03/12 STRATS SM TRUST FOR IBM CORP SEC SERI 8.01,9.01 12/29/11 STURM RUGER & CO INC DE 8.01,9.01 01/12/12 SUN RIVER ENERGY, INC CO 4.01 01/12/12 AMEND TARGET CORP MN 9.01 01/12/12 TARGET CORP MN 8.01,9.01 01/12/12 THORATEC CORP CA 8.01 01/04/12 Thrive World Wide Inc. NV 4.01,9.01 01/12/12 Timberline Resources Corp DE 7.01,9.01 01/12/12 Titan Iron Ore Corp. NV 1.01,3.02,9.01 01/11/12 Titan Iron Ore Corp. NV 1.01,3.02,5.02,9.01 11/22/11 TMX Finance LLC DE 5.02 07/08/11 TNP Strategic Retail Trust, Inc. MD 1.01,2.01,2.03,7.01, 01/06/12 9.01 TNP Strategic Retail Trust, Inc. MD 9.01 10/11/11 AMEND Tree.com, Inc. DE 1.01,2.03 01/09/12 TREX CO INC DE 1.01,1.02,9.01 01/06/12 TRI-CONTINENTAL CORP MD 7.01 01/11/12 Triangle Petroleum Corp NV 4.01,9.01 01/10/12 TRUSTCO BANK CORP N Y NY 8.01,9.01 01/12/12 UDR, Inc. MD 7.01,9.01 01/12/12 UMH PROPERTIES, INC. MD 7.01,9.01 01/12/12 UNIFIRST CORP MA 5.07 01/10/12 VIRGINIA ELECTRIC & POWER CO VA 8.01,9.01 01/09/12 VSB BANCORP INC NY 2.02,9.01 01/11/12 WILLIAMS SONOMA INC CA 7.01,8.01,9.01 01/12/12 WINNEBAGO INDUSTRIES INC IA 5.02 01/11/12 Winthrop Realty Trust OH 2.03,8.01,9.01 01/06/12 WOLVERINE WORLD WIDE INC /DE/ MI 2.02,7.01 01/12/12 XCel Brands, Inc. DE 1.01,2.01,3.02,4.01, 09/29/11 AMEND 5.02,5.03,5.05,5.06, 9.01 XCEL ENERGY INC MN 8.01 01/11/12 XL GROUP PLC L2 8.01,9.01 01/11/12 Yanglin Soybean, Inc. NV 5.02,9.01 12/26/11 AMEND