 |
 |
|
|
|
|
|
|
|
| | | |
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1
.
SEC LITIGATION RELEASE
|
EXTRACTED KEY WORDS
SECURITIES JUDGEMENT DEFENDANT TRINITY TRINITY COLOMBIA COMPLAINT TRINITY GAS RELIEF DEFENDANT DISGORGEMENT EXCHANGE COMMISSION TRINITY GAS CORPORATION JUDGE DISTRICT CONSENT CIVIL PENALTY PROCEEDING SECURITIES ACT AMOUNT FEDERAL SECURITIES LAWS THEREUNDER ORDER DISGORGEMENT ASSESS AGREEMENT INJUNCTIVE ACTION PAY DISGORGEMENT REPRESENTING AMOUNT PAID UNLAWFUL SECURITIES TRANSACTIONS SECURITIES TRANSACTIONS SET PLUS PREJUDGMENT |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 16053 / February 4, 1999
Securities and Exchange Commission v. Trinity Gas Corporation
and
Sidney W. Sers, 4:97CV1018-Y, USDC ND/TX (Fort Worth)
On January 29, 1999, Judge Terry R. Means, federal
district
judge for the Northern District of Texas, entered a final
judgment by
consent against defendant Trinity Gas Corporation ("Trinity
USA"), and
on February 2, a final judgment by default against relief
defendant
Trinity Gas Colombia ("Trinity Colombia"). The Commission’s
complaint
charged Trinity USA with fraud in connection with the sale by
Trinity
USA of approximately $11 million of its stock to at least 250
investors
in 13 states. The Commission’s complaint also sought disgorgement
from
defendant Trinity USA and relief defendant Trinity Colombia, as
well as
a civil penalty from Trinity USA.
Trinity USA, recently reorganized in a Chapter 11
bankruptcy
proceeding, consented, without admitting or denying the
allegations in
the complaint, to the entry of the final judgment. The final
judgment permanently enjoins Trinity USA from future violations
of the
registration and antifraud provisions of the federal securities
laws
found in Sections 5(a), 5(c), and 17(a) of the Securities Act of
1933,
and Section 10(b) of the Securities Act of 1934 and Rule 10b-5
thereunder. The final judgment did not order disgorgement or
assess a
civil penalty based upon Trinity USA’s agreement to waive any
claim to
funds recovered from any other defendant or relief defendant in
the
Commission’s injunctive action.
In the final judgment by default entered against Trinity
SNIPPETS:
|
|
|
| | | |
|
|
