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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
SECURITIES COMMISSION ROELANDT STOCKS EXCHANGE LITIGATION PAY DISGORGEMENT CIVIL PENALTY COMPLAINT INTERNET DISTRICT SECURITIES EXCHANGE ACT THEREUNDER COLDSTOCKS BIGPROFITNEWS BULLS-EYE STOCKS MICROCAP COMPANIES E-MAIL MESSAGES MISLEADING STATEMENTS CLAIMED PERFORMANCE PAST STOCK TRADING INTENTIONS DISTRICT JUDGE EARL CARROLL DISTRICT COURT PHOENIX BRITISH COLUMBIA SECURITIES ASSISTANCE MATTER |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 16674 / August 31, 2000
, No.Civ. 00-600-PHX-EHC (U.S.D.C., D. Az.)
On August 29, 2000, Stephen B. Marek and Dominic Roelandt were
enjoined, by consent and without admitting or denying the complaint's
allegations, from violating the antifraud provisions of the Securities
Exchange Act of 1934, Section 10(b) and Rule 10b-5 thereunder. Marek
was ordered to pay disgorgement of $100,835 and a civil penalty of
$100,835. Roelandt was ordered to pay disgorgement of $41,958 and a
civil penalty of $41,958.
The Commission's complaint, filed April 4, 2000 charged that Roelandt,
using an Internet newsletter named "Coldstocks," and Marek, using
newsletters named "BigProfitNews" and "Bulls-Eye Stocks," touted the
stocks of 35 microcap companies over the Internet. The complaint
alleged that e-mail messages or websites contained various false and
misleading statements concerning the claimed performance of Marek's
and Roelandt's past stock picks, their trading intentions, and
compensation received by Marek. U.S. District Judge Earl H. Carroll of
the District Court in Phoenix, Arizona issued the order.
The Commission wishes to thank the British Columbia Securities
Commission for its assistance in this matter.
See also, Litigation Release No. 16500 (April 4, 2000)
_________________________________________________________________
Modified 09/01/2000
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