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SEC v RICHARD P. SMYTH, ARNOLD E. JOHNS, JR., et al Click to find out why . . .



Keywords & Phrases
CaseNo: LR-17175, CourtCode: DIS, CourtName: UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF GEORGIA, Defendant: Richard P. Smyth, Arnold E. Johns, Jr., Michael J. Becker and Alan T. Davis, Plaintiff: SEC, State: GA Georgia, UniqueCaseRef: SEC>LR-17175, Smyth, Exchange Act, Securities, Commission, Vista, Johns, Becker, Georgia, Violations, Davis, Officer, Thereunder, Stock, Richard, Permanent Injunction, Securities Law, Filings, Arnold, Michael, Alan, District, Wide-range, Misstatements, Chief, Commission Pursuant, Reports, Allegations, Complaint, President , ContentID: 120246568

Case Documents
1 2001-10-05 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 116034
2 pages
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Total Documents: 1 document , 2 pages
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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
EXCHANGE ACT
SECURITIES
COMMISSION
VISTA
JOHNS
BECKER
GEORGIA
VIOLATIONS
DAVIS
OFFICER
THEREUNDER
STOCK
RICHARD
PERMANENT INJUNCTION
SECURITIES LAW
FILINGS
LITIGATION
ARNOLD
MICHAEL
ALAN
DISTRICT
WIDE-RANGE
MISSTATEMENTS
CHIEF
COMMISSION PURSUANT
REPORTS
ALLEGATIONS
COMPLAINT
PRESIDENT
SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 17175 / October 5, 2001
Accounting and Auditing Enforcement Release No. 1466 / October 5, 2001

Securities and Exchange Commission v. Richard P. Smyth, Arnold E. Johns,
Jr., Michael J. Becker and Alan T. Davis, Civil Action No. 1 01-CV-1344
(N.D. Ga.)

SEC Obtains Permanent Injunction against Richard P. Smyth

   The Securities and Exchange Commission ("Commission") announced today
   that on September 24, 2001, the Honorable Clarence Cooper of the
   United States District Court for the Northern District of Georgia
   entered an order of permanent injunction and other relief against
   Richard P. Smyth ("Smyth") of Fernandina Beach, Florida for engaging
   in a wide-range of securities law violations, including that
   misstatements were made by Vista 2000, Inc. ("Vista") in filings with
   the Commission. Vista, a now defunct consumer products company, was
   formerly headquartered in Roswell, Georgia where Smyth, as Vista's
   co-founder, served as chief executive officer and chairman of its
   board. Judge Cooper's recent order permanently enjoined Smyth from
   further violations of Section 17(a) of the Securities Act of 1933;
   Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act")
   and Rule 10b-5 thereunder; Section 13(a) of the Exchange Act and Rules
   12b-20, 13a-1, 13a-11, 13a-13 thereunder; Sections 13(b)(2)(A) and
   13(b)(2)(B) of the Exchange Act; Section 13(b)(5) of the Exchange Act
   and Rules 13b2-1 and 13b2-2 thereunder; and Sections 16(a) and 16(c)
   of the Exchange Act and Rules 16a-2 and 16a-3 thereunder. The order
   also barred Smyth from acting as an officer or director of any issuer
   that has a class of securities registered with the Commission pursuant
   to Section 12 of the Exchange Act or that is required to file reports
   with the Commission pursuant to Section 15(d) of the Exchange Act.
   Smyth was ordered to pay disgorgement and pre-judgment interest in
   amounts to be resolved upon motion of the Commission at a later date.
   Smyth consented to the entry of the order, without admitting or
   denying the allegations of the Commission's complaint.

   The Securities and Exchange Commission previously sued Smyth and three
   other men for various violations of the federal securities law. The
   remaining defendants are Arnold E. Johns, Jr. of Atlanta, Georgia,
   Alan T. Davis of Gainesville, Georgia and Michael J. Becker of
   Marietta, Georgia. Johns, Becker and Smyth are former officers of
   Vista. Johns was a director of Vista and its president, and Becker was
   Vista's chief financial officer. Davis was Vista's outside auditor.
   The litigation is continuing as to Johns, Becker and Davis.

   The Commission's complaint alleged a wide-range of securities law
SNIPPETS:
  • SECURITIES AND EXCHANGE COMMISSION
  • Securities and Exchange Commission v. Richard P. Smyth, Arnold E. Johns, Jr., Michael J.
  • SEC Obtains Permanent Injunction against Richard P. Smyth
  • The Securities and Exchange Commission announced today that on September 24, 2001, the
  • Vista, a now defunct consumer products company, was formerly headquartered in Roswell,
  • Judge Cooper's recent order permanently enjoined Smyth from further violations of Section
  • The order also barred Smyth from acting as an officer or director of any issuer that has a
  • Smyth consented to the entry of the order, without admitting or denying the allegations of
  • The Securities and Exchange Commission previously sued Smyth and three other men for various
  • The remaining defendants are Arnold E. Johns,
  • Johns was a director of Vista and its president, and Becker was Vista's chief financial
  • The litigation is continuing as to Johns,
  • The Commission's complaint alleged a wide-range of securities law violations, including that
  • The allegations against Smyth included the following Vista's revenues, income, earnings per legally sold short Vista stock during 1996 and Smyth engaged in illegal insider selling of Vista
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