Securities and Exchange Commission v. Ackerman Neiman et al

Filing 7

Final Judgment and Permanent Injunction as to Defendant The Formula, LLC. Signed by Judge William J. Zloch on 7/22/2009. (bc)

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA CASE NO. 09-61074-CIV-ZLOCH SECURITIES AND EXCHANGE COMMISSION, Plaintiff, vs. BRIAN ACKERMAN NEIMAN, THE FORMULA, INC., and THE FORMULA, LLC, Defendants. / THIS MATTER is before the Court upon the Consent Of Defendant The Formula, LLC (DE 4). The Court has carefully reviewed said FINAL JUDGMENT AND PERMANENT INJUNCTION AS TO DEFENDANT THE FORMULA, LLC

Consent and the entire court file and is otherwise fully advised in the premises. Plaintiff Securities and Exchange Commission (hereinafter "the SEC") commenced the above-styled cause with the filing of its Complaint (DE 1) against, among others, Defendant The Formula, LLC. In said Complaint, the SEC sought relief including a permanent injunction to prohibit any violation by Defendant The Formula, LLC of Sections 5(a) and (c) and 17(a)(2) and (a)(3) of the Securities Act of 1933, 15 U.S.C. §§ 77e(a), (c), 77q(a)(2), & (a)(3)

(hereinafter "Securities Act"). Defendant The Formula, LLC, by the instant Consent (DE 4), without admitting or denying any of the allegations in the SEC's Complaint (DE 1), except as to the jurisdiction of the Court, has agreed to the entry of this Final Judgment and Permanent

Injunction. It has also waived findings of fact and conclusions of

law, and waived any right to appeal from this Final Judgment.

The

Court hereby accepts such consent and waivers, and has jurisdiction over Defendant The Formula, LLC and the subject matter hereof. Accordingly, after due consideration, it is ORDERED AND ADJUDGED that pursuant to Federal Rule of Civil Procedure 58, Final Judgment And Permanent Injunction be and the same is hereby ENTERED for Plaintiff Securities And Exchange Commission and against Defendant The Formula, LLC as follows: I. Violation Of Sections 5(a) and (c) of the Securities Act Defendant The Formula, LLC, its agents, servants, employees, attorneys, representatives, and all persons in active concert or participation with them, and each said person, directly or

indirectly, who receives actual notice of this Final Judgment And Permanent Injunction, by personal service or otherwise, be and hereby are permanently ENJOINED from violating Section 5 of the Securities Act, 15 U.S.C. § 77e, by, directly or indirectly, in the absence of any applicable exemption: a. unless a registration statement is in effect as to a security, making use of any means or instruments of

transportation or communication in interstate commerce or of the mails to sell such security through the use or medium of any prospectus or otherwise; b. unless a registration statement is in effect as to a security, carrying or causing to be carried through the mails or in interstate commerce, by any means or instruments of transportation, any such security for the purpose of sale or 2

for delivery after sale; or c. making use of any means or instruments of transportation or communication in interstate commerce or of the mails to offer to sell or offer to buy through the use or medium of any prospectus or otherwise any security, unless a registration statement has been filed with the SEC as to such security, or while the registration statement is the subject of a refusal order or stop order or (prior to the effective date of the registration statement) any public proceeding of examination under Section 8 of the Securities Act, 15 U.S.C. § 77h. II. Violation of Sections 17(a)(2) and (a)(3) of the Securities Act IT IS FURTHER ORDERED AND ADJUDGED that Defendant The Formula, LLC, its agents, servants, employees, attorneys, representatives, and all persons in active concert or participation with them, and each said person, directly or indirectly, who receives actual notice of this Final Judgment And Permanent Injunction, by personal service or otherwise, be and hereby are permanently ENJOINED from violating Sections 17(a)(2) and (a)(3) of the Securities Act, 15 U.S.C. § 77q(a)(2), (a)(3), in the offer or sale of any security by the use of any means or instruments of transportation or

communication in interstate commerce or by use of the mails, directly or indirectly: a. to obtain money or property by means of any untrue

statement of a material fact or any omission of a material fact necessary in order to make the statements made, in light of the circumstances under 3 which they were made, not

misleading; or b. to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser. III. Incorporation of The Formula, LLC's Consent IT IS FURTHER ORDERED AND ADJUDGED that the Consent of

Defendant The Formula, LLC (DE 4) is incorporated herein with the same force and effect as if fully set forth herein, and that The Formula, Inc. will comply with all of the undertakings and

agreements set forth therein. IV. Retention of Jurisdiction

IT IS FURTHER ORDERED AND ADJUDGED that the Court will retain jurisdiction enforcing Injunction. DONE AND ORDERED in Chambers at Fort Lauderdale, Broward County, Florida, this 22nd day of July, 2009. of the terms above-styled of this cause for the purposes of

the

Final

Judgment

And

Permanent

WILLIAM J. ZLOCH United States District Judge Copies furnished: All Counsel of Record

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