Securities and Exchange Commission v. Landoak Securities, LLC et al

Filing 42

ORDER accepting in whole 41 the magistrate judge's Report and Recommendation and granting in part and denying in part 34 the Securities and Exchange Commission's Motion to Impose a Civil Penalty Against Patrick L. Mart in. The motion is GRANTED to the extent that a civil penalty is IMPOSED against Defendant Patrick L. Martin in the amount of $30,000.00, and DENIED to the extent that it requests a civil penalty greater than $30,000.00 be imposed against Defendant Martin. Signed by District Judge Thomas W Phillips on December 1, 2011. (AYB)

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF TENNESSEE
AT KNOXVILLE

SEC. & EXCH. COMM’N,
Plaintiff,
v.
LANDOAK SEC., LLC,
PATRICK L. MARTIN, and
MICHAEL A. ATKINS,
Defendants.

)
)
)
)
)
)
)
)
)

No. 3:08-cv-209
(Phillips/Guyton)

ORDER
This matter is before the Court on the report and recom mendation filed by United
States Magistrate Judge H. Bruce Guyton [Doc. 41] regarding the Motion of Securities and
Exchange Commission to Impose a Civil Penalty Against Patrick L. Martin [Doc. 34]. There have
been no timely objections to the magistrate judge’s report and recommendation. See 28 U.S.C. §
636(b)(1); Fed. R. Civ. P. 72(b)(2).

After a careful review of this matter, the Court is in agreement with the magistrate
judge’s recommendation that Plaintiff’s motion to impose a civil penalty [Doc. 34] beGRANTED
IN PART and DENIED IN PART. Accordingly, the CourtACCEPTS IN WHOLE the report and
recommendation [Doc. 41] under 28 U.S.C. § 636(b)(1) and Fed. R. Civ. P. 72(b).

It is hereby ORDERED, for the reasons stated in the report and recom mendation,
which the court adopts and incorporates into its ruling, that Plaintiff’s m otion to impose a civil
penalty [Doc. 34] is GRANTED to the extent that a civil penalty is IMPOSED against Defendant

Patrick L. Martin in the amount of $30,000.00, and DENIED to the extent that it requests a civil
penalty greater than $30,000.00 be imposed against Defendant Martin.

IT IS SO ORDERED.

ENTER:
s/ Thomas W. Phillips
United States District Judge

-2-