Securities and Exchange Commission v. Blakstad et al

Filing 94

FINAL JUDGMENT AS TO DEFENDANT XACT HOLDINGS CORPORATION: IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is liable for disgorgement of $750,000, representing certain profits gained as a result of the conduct alleged in the Compla int. Defendant's disgorgment obligation shall be satisfied pursuant to the terms of Section II below. In accordance with this Final Judgment, to satisfy Xact Holdings Corporation's obligation to pay total disgorgement of $750,000, a nd this sum having been deposited into the registry of the Court, the Clerk is hereby ORDERED to issue payments from the Court's registry to bank accounts in the names of the individuals and entities identified below, in the amounts specifi ed, totaling $750,000, as further set forth herein. Defendant acknowledges that the Court is not imposing permanent injunctions or a civil penalty or requiring payment of an additional $775,000 of disgorgement and pre-judgment interest b ased on the fact that Defendant Donald G. Blakstad has disclaimed any interest or control over Defendant, which is now owned and controlled by the investors identified in Section II above. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Con sent is incorporated herein with the same force and effect as if fully set forth herein, and that Defendant shall comply with all of the undertakings and agreements set forth therein. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court s hall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice. Xact Holdings Corporation terminated. (Signed by Judge Denise L. Cote on 11/21/2022) (vfr) Transmission to Finance Unit (Cashiers) for processing.