LegalCaseDocs.com
shopping cart  
  |     
Search
 

 
New Visitors


 VeriSign Secure Site

 Get Adobe Reader

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



Keywords & Phrases
CaseNo: LR-17566, 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-17566, Davis, Securities, Vista, Exchange, Exchange Commission, Smyth, Johns, Becker, Violations, Exchange Act, Georgia, Alan, Permanent Injunction, Securities Law, Thereunder, Stock, Richard, Arnold, Michael, District, Auditor, Amount, Complaint, Officers, President, Finance, Reports, Illegal Insider Trading , ContentID: 120253098

Case Documents
1 2002-06-17 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 128929
2 pages
HTML
Total Documents: 1 document , 2 pages
Price: $ 19.95


IVESLCD01 KGI0001
 
 

 Forgot your password?


1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
SECURITIES
VISTA
EXCHANGE
EXCHANGE COMMISSION
SMYTH
JOHNS
BECKER
VIOLATIONS
EXCHANGE ACT
GEORGIA
ALAN
PERMANENT INJUNCTION
SECURITIES LAW
THEREUNDER
STOCK
LITIGATION
RICHARD
ARNOLD
MICHAEL
DISTRICT
COURT
AUDITOR
AMOUNT
COMPLAINT
OFFICERS
PRESIDENT
FINANCE
REPORTS
ILLEGAL INSIDER TRADING
U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No.17566 / June 17, 2002

   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 ALAN T. DAVIS

   The Securities and Exchange Commission ("Commission") announced today
   that on May 24, 2002, 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 Alan T. Davis
   ("Davis") of Seymour, Tennessee for engaging in violations of the
   antifraud and accounting control provisions of the securities laws
   during his tenure as an outside auditor of Vista 2000, Inc. ("Vista"),
   a now defunct consumer products company formerly headquartered in
   Roswell, Georgia. Judge Cooper's order permanently enjoined Davis 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(b)(5) of the Exchange Act and
   Rule 13b2-1 thereunder, and Section 14(e) of the Exchange Act and Rule
   14e-3 thereunder. Davis was ordered to pay disgorgement in the amount
   of $255,627 and pre-judgment interest thereon in the amount of
   $159,680. The order against Davis was entered pursuant to a default
   judgment, in which the facts of the Commission's complaint were deemed
   to be true against Davis.

   The Securities and Exchange Commission previously sued Davis and three
   other men for various violations of the federal securities law. The
   other defendants are Arnold E. Johns, Jr. of Atlanta, Georgia, Michael
   J. Becker of Marietta, Georgia and Richard P. Smyth of Fernandina
   Beach, Florida. Johns, Smyth and Becker are former officers of Vista.
   Johns was a director of Vista and its president, and Smyth was Vista's
   founder and chief executive officer. Becker was Vista's vice president
   of finance. The litigation is continuing as to Johns. Smyth and Becker
   were previously enjoined by separate orders 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 Davis included that he
   audited Vista's 1994 financial statements at a time when he owned
   23,333 shares of Vista common stock, and as its outside auditor
   assisted Vista in preparing its reports on Form 10-QSB until November
   1995. In addition, Davis engaged in illegal insider trading in Vista
   stock and in the stock of a company acquired by Vista, and violated
   generally accepted auditing standards while conducting his audit of
SNIPPETS:
  • U.S. SECURITIES AND EXCHANGE COMMISSION
  • SEC OBTAINS PERMANENT INJUNCTION AGAINST ALAN T. DAVIS
  • The Securities and Exchange Commission announced today that on May 24, 2002, the Honorable headquartered in Roswell, Georgia.
  • Judge Cooper's order permanently enjoined Davis from further violations of Section 17of the
  • Davis was ordered to pay disgorgement in the amount of $255,627 and pre-judgment interest
  • The order against Davis was entered pursuant to a default judgment, in which the facts of the
  • The other defendants are Arnold E. Johns,
  • of Atlanta, Georgia, Michael J. Becker of Marietta, Georgia and Richard P. Smyth of
  • Smyth and Becker are former officers of Vista.
  • Johns was a director of Vista and its president, and Smyth was Vista's founder and chief
  • Becker was Vista's vice president of finance.
  • The litigation is continuing as to Johns.
  • Smyth and Becker were previously enjoined by separate orders of the court.
  • The Commission's complaint alleged a wide-range of securities law violations, including that
  • The allegations against Davis included that he audited Vista's 1994 financial statements at a
  • In addition, Davis engaged in illegal insider trading in Vista stock and in the stock of a
  •    |