SEC v L.C. WEGARD & CO., INC - Legal Case Documents


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SEC v L.C. WEGARD & CO., INC

Keywords & Phrases

CaseNo: 34-40046, Defendant: L.C. Wegard & Co., Inc., Plaintiff: SEC, State: WA Washington, UniqueCaseRef: SEC>34-40046, Wegard, Securities, Greer, Respondents, Manipulation, Market, Firm, Exchange Act, Stock, Security, Price, Profit, Wolf, Exchange Commission, Participating, Offering, President, Law Judge, Broker-dealer, Enforcement, Retail Customers, Brokerage Firms, Common Stock, Accumulating, Limit Price, Market Maker, Remedial Action, Registered Broker-dealer, Disgorgement , ContentID: 120247230

Case Documents

1998-05-29

SEC COMMISSION OPINION
[ see first page and extracted highlights below ] ItemID: 117380

20 pages
TXT

Total Documents: 1 document , 20 pages

Price: $ 19.95

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1 . SEC COMMISSION OPINION

EXTRACTED KEY WORDS

SECURITIES
GREER
RESPONDENTS
MANIPULATION
MARKET
FIRM
EXCHANGE ACT
STOCK
COUNSEL
SECURITY
PRICE
PROFIT
WOLF
EXCHANGE COMMISSION
PARTICIPATING
OFFERING
PRESIDENT
LAW JUDGE
BROKER-DEALER
ENFORCEMENT
RETAIL CUSTOMERS
BROKERAGE FIRMS
COMMON STOCK
ACCUMULATING
LIMIT PRICE
MARKET MAKER
REMEDIAL ACTION
REGISTERED BROKER-DEALER
DISGORGEMENT







                          SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     SECURITIES EXCHANGE ACT OF 1934
     Rel. No.  40046 / May 29, 1998

     Admin. Proc. File No. 3-8533

                                           :
                In the Matter of           :
                                           :
             L.C. WEGARD & CO., INC.       :
               17 Battery Place            :
              New York, New York           :
                                           :
               LEONARD B. GREER            :
                                           :

     OPINION OF THE COMMISSION

          BROKER-DEALER PROCEEDINGS

               Ground for Remedial Action

                    Manipulation

               Registered broker-dealer and its president participated with
two
               other brokerage firms in manipulation of market for a
security.
               Held, it is in the public interest to revoke broker-dealer's
               registration, suspend president from association with any
broker-
               dealer for one year and bar him from participation in any
penny
               stock offering, order firm to disgorge profits, fine
respondents,
               and issue a cease and desist order.

     APPEARANCES:

          Jerome M. Selvers and Chad N. Cagan, of Sonnenblick, Parker &

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

L.C. WEGARD & CO., INC.:

Ground for Remedial Action

Registered broker-dealer and its president participated with two

other brokerage firms in manipulation of market for a security.

Greer, its president and sole owner, appeal from the decision of an administrative law judge.

The law judge found that, in November and December 1993, respondents acted in concert with

10and 15of the Securities Exchange Act of 1934 and Rules 10b-5 and 15c1-2 thereunder.

The law judge concluded that Wegard's registration should be revoked, and Greer both

He further concluded that Wegard should disgorge $158,375 plus prejudgment interest, and that

Of Counsel common stock, and that respondents violated