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



Keywords & Phrases
CaseNo: LR-17211, CourtCode: DIS, CourtName: STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF GEORGIA ENTERED AN, Defendant: Richard P. Smyth, Arnold E. Johns, Jr., Michael J. Becker and Alan T. Davis, Plaintiff: SEC, State: GA Georgia, UniqueCaseRef: SEC>LR-17211, Securities, Becker, Exchange Commission, Vista, Smyth, Johns, Georgia, Davis, Violations, Michael, Permanent Injunction, Securities Law, Officer, Exchange Act, Accounting, Richard, Arnold, Alan, District, Chief, Allegations, Complaint, Accepted Accounting Principles, Insider Trading, Revenues, Income, Earnings, Assets , ContentID: 120246933

Case Documents
1 2001-10-30 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 117083
2 pages
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Total Documents: 1 document , 2 pages
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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
BECKER
EXCHANGE COMMISSION
VISTA
SMYTH
JOHNS
GEORGIA
DAVIS
VIOLATIONS
MICHAEL
PERMANENT INJUNCTION
SECURITIES LAW
OFFICER
EXCHANGE ACT
LITIGATION
ACCOUNTING
RICHARD
ARNOLD
ALAN
DISTRICT
COURT
CHIEF
ALLEGATIONS
COMPLAINT
ACCEPTED ACCOUNTING PRINCIPLES
INSIDER TRADING
REVENUES
INCOME
EARNINGS
ASSETS
SECURITIES AND EXCHANGE COMMISSION

Litigation Release No.17211 / October 30, 2001

   Accounting and Auditing Enforcement Release No. 1474

   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 MICHAEL J. BECKER

   The Securities and Exchange Commission ("Commission") announced today
   that on October 11, 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 Michael J.
   Becker ("Becker") of Marietta, Georgia for engaging in violations of
   the antifraud provisions of the securities laws during his tenure as
   chief financial officer of Vista 2000, Inc. ("Vista"), a now defunct
   consumer products company formerly headquartered in Roswell, Georgia.
   Judge Cooper's order permanently enjoined Becker from further
   violations of Section 17(a) of the Securities Act of 1933 and Section
   10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule
   10b-5 thereunder. Becker was ordered to pay disgorgement and
   pre-judgment interest in amounts to be resolved upon motion of the
   Commission at a later date. Becker 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 Becker and
   three other men for various violations of the federal securities law.
   The other defendants are Arnold E. Johns, Jr. of Atlanta, Georgia,
   Alan T. Davis of Gainesville, Georgia and Richard P. Smyth of
   Fernandina Beach, Florida. Like Becker, Johns and Smyth are former
   officers of Vista. Johns was a director of Vista and its president,
   and Smyth was Vista's founder and chief executive officer. Davis was
   Vista's outside auditor. The litigation is continuing as to Johns and
   Davis. Smyth was previously enjoined by separate order of the court.

   The Commission's complaint alleged a wide-range of securities law
   violations, including that misstatements were made by Vista in filings
   with the Commission. The allegations against Becker included that he
   recorded various transactions at Vista in contravention of generally
   accepted accounting principles, and engaged in insider trading in
   Vista securities at a time when Vista's revenues, income, earnings per
   share, and assets were overstated.

   See also (October 5, 2001); (June 21, 2001)
SNIPPETS:
  • SECURITIES AND EXCHANGE COMMISSION
  • SEC OBTAINS PERMANENT INJUNCTION AGAINST MICHAEL J. BECKER
  • The Securities and Exchange Commission announced today that on October 11, 2001, the ed in Roswell, Georgia.
  • Judge Cooper's order permanently enjoined Becker from further violations of Section 17of the
  • The other defendants are Arnold E. Johns,
  • of Atlanta, Georgia, Alan T. Davis of Gainesville, Georgia and Richard P. Smyth of Fernandina
  • Johns and Smyth are former officers of Vista.
  • Johns was a director of Vista and its president, and Smyth was Vista's founder and chief
  • The litigation is continuing as to Johns and Davis.
  • Smyth was previously enjoined by separate order of the court.
  • The Commission's complaint alleged a wide-range of securities law violations, including that
  • The allegations against Becker included that he recorded various transactions at Vista in
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