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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
CHORNEY EXCHANGE ACT COMMISSION FERROFLUIDICS VIOLATIONS SECURITIES PROCEEDING FINDINGS THEREUNDER SETTLEMENT COMMITTING CAUSING KEDAR GUPTA ALVAN CHORNEY PURPOSE EQUITY SECURITIES AGREEMENT EXERCISE WARRANTS CEASE FUTURE VIOLATIONS ACCORDANCE VICE PRESIDENT EQUIPMENT STOCK BENEFICIAL OWNERSHIP SCHEDULE VOTING ISSUER |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 41429 / May 20, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-9435
In the Matter of
KEDAR GUPTA,
ALVAN CHORNEY, and
HERBERT MOSKOWITZ
Respondents.
FINDINGS AND ORDER
OF THE COMMISSION
AS TO KEDAR GUPTA
AND ALVAN CHORNEY
I.
Kedar Gupta ("Gupta") and Alvan Chorney ("Chorney") have submitted
Offers of Settlement for the purpose of disposing of the issues raised
with respect to them by this proceeding. Solely for the purposes of
these proceedings and any other proceedings brought by or on behalf of
the Commission or to which the Commission is a party, and prior to
hearing and without admitting or denying the findings set forth
herein, Gupta and Chorney each consent to the entry of these Findings
and Order of the Commission ("Order"). The Commission has determined
that it is appropriate and in the public interest to accept Offers of
Settlement from Gupta and Chorney, and accordingly issues this Order.
II.
Based on the foregoing, the Commission finds that
A. Respondents
1. Kedar Gupta
Gupta, age 51, is President of GT Equipment Technologies, Inc., a
privately held company that engineers and builds custom equipment.
From 1985 until 1994, Gupta was General Manager of Ferrofluidics
Corporation's ("Ferrofluidics") Systems Equipment Division.
2. Alvan Chorney
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