UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 8037 / Nov. 20, 2001
SECURITIES EXCHANGE ACT OF 1934
Release No. 45085 / Nov. 20, 2001
ADMINISTRATIVE PROCEEDING
File No. 3-10581
_________________________________________________________________
In the Matter of
MICHAEL A. FURR
_________________________________________________________________
ORDER ENTERING DEFAULT,
MAKING FINDINGS, AND
IMPOSING REMEDIAL
SANCTION
The Securities and Exchange Commission (Commission or SEC) issued its
Order Instituting Proceedings (OIP) on September 20, 2001. On October
17, 2001, the Division of Enforcement (Division) filed a status
report, stating that Respondent received the OIP at his home address
on September 29, 2001. As proof of service, the Division attached a
signed and dated certified mail receipt. Respondent's answer to the
OIP was due on October 19, 2001, and no answer has been received.
On October 24, 2001, the Division moved for an order finding
Respondent in default, deeming the allegations in the OIP to be true,
and imposing a penny stock bar. The time for filing an opposition to
that motion has expired, and no opposition has been received.
Accordingly, Respondent is in default for failing to answer the OIP
and for failing to respond to a dispositive motion. See Rule 155(a)(2)
of the Commission's Rules of Practice, 17 C.F.R. § 201.155(a)(2). The
following allegations in the OIP are deemed to be true
Michael A. Furr (Furr) resides in California. From at least January
1999 to January 2000, Furr engaged in the public and investor
relations business through a variety of entities that he created,
owned, and controlled, including Wall Street Research Group, Inc., and
Wall Street Financial Group, Inc.
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
ADMINISTRATIVE PROCEEDING
ORDER ENTERING DEFAULT, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTION
The Securities and Exchange Commission issued its Order Instituting Proceedings on September
On October 17, 2001, the Division of Enforcement filed a status report, stating that
On October 24, 2001, the Division moved for an order finding Respondent in default, deeming
The time for filing an opposition to that motion has expired, and no opposition has been
Respondent is in default for failing to answer the OIP and for failing to respond to a
See Rule 155of the Commission's Rules of Practice,
Michael A. Furr resides in California.
From at least January 1999 to January 2000, Furr engaged in the public and investor relations
From January 1999 through January 2000, Furr touted at least twenty-six penny stocks on his
Furr included false financial projections and made misrepresentations about the issuers'
Furr also engaged in a fraudulent pattern of trading in some of the stocks.
The same day as, or within a few days of, issuing reports and electronic mail with buy
On September 5, 2000, the Commission filed a civil complaint against Furr in the U.S.
Section 10of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.
At the time of the misconduct described above, Furr was participating in an offering of penny
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