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Securities and Exchange Commission v. Malom Group AG

United States District Court, D. Nevada

September 29, 2017

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
MALOM GROUP AG, et al, Defendants.

          FINAL JUDGMENT AS TO DEFENDANT HANS-JURG LIPS

          Gloria M. Navarro, Chief Judge United States District Court.

         This matter coming before the Court on the motion of the Plaintiff, Securities and Exchange Commission (“SEC” or “the Commission”), for summary judgment as to Defnednat Hans-Jurg Lips pursuant to Federal Rule of Civil Procedure 56(a), and the Court having reviewed that motion, the SEC's Statement of Uncontested Material Facts, the SEC's supporting documentation, any responses and replies, and the record herein, the Court finds that there is no genuine issue of material fact, that the SEC is entitled to judgment as a matter of law, and therefore, the SEC's motion should be, and is hereby, GRANTED.

         I.

         PLAINTIFF'S MOTION IS HEREBY GRANTED, and Defendant is found to have violated Section 10(b) of the Securities and Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 thereunder [17 C.F.R. § 240.10b-5], Sections 5(a) and (c) of the Securities Act of 1933 (“Securities Act”) [15 U.S.C. §§ 77e(a) and (c)], and Securities Act Section 17(a) [15 U.S.C. § 77q(a)].

         II.

         IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant 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 promulgated thereunder [17 C.F.R. § 240.10b-5], 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:

(a) to employ any device, scheme, or artifice to defraud;
(b) 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; or
(c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.

         IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant's officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or participation with Defendant or with anyone described in (a).

         III.

         IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is permanently restrained and enjoined from violating Section 17(a) of the Securities Act of 1933 (the “Securities Act”) [15 U.S.C. § 77q(a)] 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 employ any device, scheme, or artifice to defraud;
(b) 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 ...

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