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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
BROWN SECURITIES EXCHANGE COMMISSION LITIGATION CIVIL ROSAMOND SETTLEMENT INJUNCTION DISTRICT JUDGEMENT PERMANENT COMPLAINT TRADING MIDSOUTH DENYING ALLEGATIONS JUDGMENT PERMANENTLY ENJOINING FUTURE VIOLATIONS SECURITIES EXCHANGE ACT THEREUNDER TOTAL AMOUNT CONSISTING DISGORGEMENT TRADING PROFIT PREJUDGMENT THEREON ONE-TIME CIVIL PENALTY CO-DEFENDANT JULIA PECK JULIA PECK MOBLEY |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
Litigation Release No. 15696 / April 7, 1998
SECURITIES AND EXCHANGE COMMISSION v. ROSAMOND S. BROWN
Civil Action No. 94-1294 (WBB) (D.D.C.)
The Securities and Exchange Commission today announced the
settlement of a civil injunctive action that the Commission filed
against Rosamond S. Brown. The Honorable William B. Bryant,
Senior United States District Judge, District of Columbia,
entered a final judgment of permanent injunction and other relief
against defendant Brown on April 6, 1998.
In its complaint, filed June 13, 1994, the Commission alleged
that Brown engaged in insider trading by purchasing shares of the
common stock of MidSouth Corporation after she was tipped about
pending merger negotiations between MidSouth and Kansas City
Southern Industries, Inc. (See Litigation Release No. 14123).
Brown consented, without admitting or denying the allegations in
the Complaint, to a final judgment permanently enjoining her
against future violations of Section 10(b) of the Securities
Exchange Act of 1934 and Rule 10b-5 thereunder, and ordering that
she pay the total amount of $9,431.28, consisting of $3,800 in
disgorgement of her trading profit, prejudgment interest thereon
of $1,831.28, and a one-time civil penalty of $3,800.
Separately, co-defendant Julia Peck Mobley has also settled this
case with the Commission. (See Litigation Release No. 15695,
dated April 7, 1998).
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