SECURITIES AND EXCHANGE COMMISSION v. FORTITUDE GROUP, INC. et al

Filing 20

ORDER granting 13 Motion for Default Judgment; adopting Report and Recommendations re 18 Report and Recommendations. Consideration of Plaintiffs claim for a civil money penalty against Defendant Fortitude Group, Inc. is deferred until the Court is able to consider Defendant Thomas Parillas liability. Signed by Judge Barbara Rothstein on 3/1/2017. (nk)

UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF PENNSYLVANIA
AT ERIE

SECURITIES AND EXCHANGE
COMMISSION,

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Plaintiff,
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v.
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FORTITUDE GROUP, INC., et al.,
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Defendants.
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____________________________________)

Civil Action No. 16-50

ORDER

ORDER ADOPTING REPORT AND RECOMMENDATION
The Court, having considered the Report and Recommendation of Magistrate Judge
Susan Paradise Baxter, and the balance of record, HEREBY ORDERS:
(1) The Court ADOPTS the Report and Recommendation, Docket No. 18.
(2) Plaintiff’s Motion for Default Judgment Against Fortitude Group, Inc., Docket No. 13, is
GRANTED.
(3) Defendant Fortitude Group, Inc.—including its officers, agents, servants, and
employees—is PERMANENTLY RESTRAINED AND ENJOINED from violating,
directly or indirectly, Section 10(b) of the Securities Exchange Act of 1934 (the
“Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5(b) promulgated thereunder [17
C.F.R. § 240.10b-5(b)], by using any means or instrumentality of interstate commerce, or
of the mails, or of any facility of any national securities exchange, in connection with the

purchase or sale of any security to make any untrue statement of a material fact or to omit
to state a material fact necessary in order to make the statements made, in the light of the
circumstances under which they were made, not misleading.
(4) Consideration of Plaintiff’s claim for a civil money penalty against Defendant Fortitude
Group, Inc. is deferred until the Court is able to consideration Defendant Thomas
Parilla’s liability.
(5) The Clerk shall send copies of this Order to the parties.
IT IS SO ORDERED.
DATED this 1st day of March, 2017.

BARBARA J. ROTHSTEIN
UNITED STATES DISTRICT JUDGE

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