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1
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COMPLAINT
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EXTRACTED KEY WORDS
EXCHANGE ACT DEFENDANTS RASBERRY VIOLATIONS COMMISSION SECURITIES GALLO STOCK THEREUNDER REPORTING FUND COMMON STOCK CONTROL COMPLAINT OWNERSHIP SCHEME PURCHASE PURSUANT ENJOIN UCA OFFICERS FILING DISCLOSE FLORIDA COURT REALLEGES PARAGRAPHS ISSUER EMPLOYEES DIRECTING |
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
CASE NO.
SECURITIES AND EXCHANGE COMMISSION,
Plaintiff, :
:
v. :
:
UNCOMMON MEDIA GROUP, INC., :
A FLORIDA CORPORATION, :
LAWRENCE GALLO, and :
DOUGLAS RASBERRY,
Defendants.
COMPLAINT FOR INJUNCTIVE AND OTHER RELIEF
Plaintiff Securities and Exchange Commission ("Commission") alleges:
INTRODUCTION
1. The Commission brings this action to restrain and enjoin Uncommon Media Group,
Inc. ("Uncommon Media"), Lawrence Gallo ("Gallo"), and Douglas Rasberry
("Rasberry") (collectively "Defendants") from making materially false and misleading
statements and failing to disclose material information in filings with the Commission in
violation of the federal securities laws. Beginning in the late fall of 2000, Gallo and
Rasberry agreed to participate in a fraudulent scheme whereby Rasberry, an undisclosed
control person of Uncommon Media, would sell $8-10 million of Uncommon Media
common stock to a European-based investment fund in return for kickbacks to the
company and themselves. To further this scheme, Rasberry used several offshore
corporate nominees to conceal his ownership interest in Uncommon Media stock and
avoid reporting such ownership to the Commission. In addition to a permanent
injunction, the Commission seeks an order imposing civil monetary penalties against
Defendants pursuant to Section 21(d) of the Securities Exchange Act of 1934 ("Exchange
Act").
DEFENDANTS
2. Defendant Uncommon Media, a Florida corporation, creates and delivers targeted
advertising using multimedia technology, software, and the Internet. Uncommon Media's
SNIPPETS:
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