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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
EXCHANGE COMMISSION LEWELLYN COMMON STOCK OMNET UNITED STATES ROYAL AMERICAN MANAGEMENT OKLAHOMA COMPLAINT ACT BAZARIAN PNI JUDGEMENT UNITED STATES DISTRICT STATES DISTRICT COURT OKLAHOMA CITY ADMITTING DENYING ALLEGATIONS FUTURE VIOLATIONS THEREUNDER PARTICIPATION OFFERING OMNET CORPORATION PENNY STOCK COMPANY SUCCESSOR PERFORMANCE NUTRITION CHARLES BAZARIAN SOLD PROMOTIONAL ACTIVITIES |
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 15147 / November 4, 1996
SECURITIES AND EXCHANGE COMMISSION v. ROYAL AMERICAN MANAGEMENT,
INC.,et al., CIV-94:1619-T, USDC, WD/OK
The Securities and Exchange Commission ("Commission")
announced that on October 31, 1996, a final judgment was entered
in United States District Court in Oklahoma City, Oklahoma,
against Gary V. Lewellyn ("Lewellyn"). Without admitting or
denying the allegations in the Commission's complaint, Lewellyn
consented to be permanently enjoined from future violations of
Section 17(a) of the Securities Act of 1933, and Section 10(b) of
the Securities Exchange Act of 1934, and Rule 10b-5 thereunder,
based on his participation in the offering of the common stock of
Omnet Corporation ("Omnet"), a penny stock company, and its
successor, Performance Nutrition, Inc. ("PNI"). The Commission's
complaint alleged that Lewellyn, along with Charles Bazarian
("Bazarian") and others, promoted the common stock of Omnet, and,
later, PNI, through Royal American Management, Inc., and that
Bazarian and certain other persons subsequently offered and sold
the common stock of Omnet and PNI based on the promotional
activities of Lewellyn and others.
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