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SEC v BRIAN WIEGAND RELEASE NO.: 34-48513; AAER-1866 Click to find out why . . .



Keywords & Phrases
CaseNo: 33-8291, Defendant: Brian Wiegand Release No.: 34-48513; AAER-1866, Plaintiff: SEC, State: OR Oregon, UniqueCaseRef: SEC>33-8291, Homestore, Act, Wiegand, Transaction, Business Filings, Securities, Revenue, Exchange Act, Nameprotect, Advertising, Media Company, Commission, Purchase, Violations, Officer, Accounting, Respondent, Financial Statements, Round-trip Transaction, Brian Wiegand, Cease-and-desist Proceedings, Pursuant, Instituting, Findings, Wisconsin, Internet, Slayton, Inflated Price, Management, Causing , ContentID: 120255619

Case Documents
1 2003-09-22 SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below  ] ItemID: 132909
6 pages
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Total Documents: 1 document , 6 pages
Price: $ 19.95


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1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS
ACT
WIEGAND
TRANSACTION
BUSINESS FILINGS
SECURITIES
REVENUE
EXCHANGE ACT
NAMEPROTECT
ADVERTISING
MEDIA COMPANY
COMMISSION
PURCHASE
VIOLATIONS
OFFICER
ACCOUNTING
RESPONDENT
FINANCIAL STATEMENTS
ROUND-TRIP TRANSACTION
BRIAN WIEGAND
CEASE-AND-DESIST PROCEEDINGS
PURSUANT
INSTITUTING
FINDINGS
WISCONSIN
INTERNET
SLAYTON
INFLATED PRICE
MANAGEMENT
CAUSING
United States of America
before the
Securities and Exchange Commission

Securities Act of 1933
Release No. 8291 / September 22, 2003

Securities Exchange Act of 1934
Release No. 48513 / September 22, 2003

Accounting and Auditing Enforcement
Release No. 1866 / September 22, 2003

Administrative Proceeding
File No. 11263
     _________________________________________________________________

   In the Matter of

   BRIAN WIEGAND,

   Respondent.
     _________________________________________________________________

   ORDER INSTITUTING CEASE-AND-DESIST PROCEEDINGS, MAKING FINDINGS, AND
   IMPOSING A CEASE-AND-DESIST ORDER PURSUANT TO SECTION 8A OF THE
   SECURITIES ACT OF 1933 AND SECTION 21C OF THE SECURITIES EXCHANGE ACT
   OF 1934 AS TO BRIAN WIEGAND

I.

   The Securities and Exchange Commission ("Commission") deems it
   appropriate that cease-and-desist proceedings be, and hereby are,
   instituted pursuant to Section 8A of the Securities Act of 1933
   ("Securities Act") and Section 21C of the Securities Exchange Act of
   1934 ("Exchange Act"), against Brian Wiegand ("Wiegand" or
   "Respondent").

II.

   In anticipation of the institution of these proceedings, Respondent
   has submitted an Offer of Settlement (the "Offer") which the
   Commission has determined to accept. Solely for the purpose of these
   proceedings and any other proceedings brought by or on behalf of the
   Commission, or to which the Commission is a party, and without
   admitting or denying the findings herein, except as to the
   Commission's jurisdiction over him and the subject matter of these
   proceedings, which are admitted, Respondent consents to the entry of
SNIPPETS:
  • Securities and Exchange Commission
  • Securities Exchange Act of 1934
  • Accounting and Auditing Enforcement
  • ORDER INSTITUTING CEASE-AND-DESIST PROCEEDINGS, MAKING FINDINGS, AND IMPOSING A
  • The Securities and Exchange Commission deems it appropriate that cease-and-desist proceedings
  • In anticipation of the institution of these proceedings, Respondent has submitted an Offer of
  • Wiegand was the Chief Executive Officer and a director of NameProtect.
  • he was the Chief Executive Officer and Chairman of the Board of Business Filings.
  • Homestore was one of the top portals for on-line real estate and related services in 2001.
  • NameProtect, Inc. is a closely held Delaware corporation based in Madison, Wisconsin.
  • another company acquired the assets of Business Filings in an arm's length transaction.
  • He is also a part owner of both NameProtect and Business Filings, Inc. Slayton resigned as an
  • Similar to other Internet companies, Homestore's business model was based on revenue growth
  • Securities analysts covering Homestore consistently focused on such advertising revenues and
  • Homestore filed Forms 10-Q for the first three quarters of 2001 despite knowing that the
  • Homestore entered into a formal agreement with a Media Company to engage in complicated
  • As part of the deal, Homestore paid an artificially inflated price of $5.2 million to
  • As a condition to the transaction, Homestore required that another conduit company, Business
  • The use of Business Filings for purchase of the advertising concealed the true nature of the
  • they agreed to comply with the conditions demanded by Homestore management to conceal the
  • As a result of the conduct described above, Wiegand caused violations of Section 17of the
  • Lastly, as a result of the conduct described above, Wiegand caused Homestore's senior
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