IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF NEW MEXICO
__________
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v. No. CIV 98-860 BB/RLP
SOLV-EX CORPORATION, JOHN
S. RENDALL, and HERBERT M.
CAMPBELL, II,
Defendants.
FINAL JUDGMENT OF PERMANENT INJUNCTION
AND OTHER RELIEF
THE COURT entered its findings of fact and conclusions of law in this
matter, which are incorporated herein by reference, on March 31, 2000. After the
parties were unable to agree to a form of judgment, further testimony and
evidence was received at a hearing on May 15, 2000. The Court having found
that Defendants Solv-Ex Corporation ("Solv-Ex"), John S. Rendall ("Rendall"),
and Herbert M. Campbell, II ("Campbell") violated Section 17(a) of the
Securities Act of 1933 ("Securities Act") [15 U.S.C. õ 77q(a)] and Sections 10(b)
and 13(a) of the Securities Act of 1934 ("Exchange Act") [15 U.S.C. õõ 78j(b) 2
and 78m(a)], and having concluded that there is a reasonable likelihood that the
Defendants will engage in future violations unless enjoined;
Now, therefore,
IT IS ORDERED, ADJUDGED AND DECREED that Solv-Ex, Rendall
and Campbell, their officers, agents, servants, and employees, and those persons
in active concert or participation with them who receive actual notice of this Final
Judgment by personal service or otherwise, and each of them, be and they hereby
are permanently restrained and enjoined from violating Section 17(a) of the
Securities Act or Section 10(b) of the Exchange Act and Rule 10b-5 by, directly
or indirectly, in the offer or sale of any securities by the use of any means or
instruments of interstate commerce:
(1) employing any device, scheme or artifice to defraud; or
(2) obtaining money or property by means of any untrue statement of a
material fact or omission to state a material fact.
IT IS FURTHER ORDERED that Solv-Ex, Rendall, and Campbell, their
officers, agents, servants, and employees, and those persons in active concert or
participation with them who receive actual notice of this Final Judgment by
personal service or otherwise, and each of them, be and they hereby are3
permanently restrained and enjoined from violating Section 13(a) of the Exchange
Act by, directly or indirectly, filing or causing the filing with the Securities and
Exchange Commission of any periodic report on behalf of any issuer, which
contains any untrue statement of material, or which omits 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.
IT IS FURTHER ORDERED that Defendant John S. Rendall shall pay
a civil penalty of $5,000 pursuant to Section 20(d) of the Securities Act [15
U.S.C. õ 775(d)] and Section 21(d)(3) of the Exchange Act [15 U.S.C.
õ 78u(d)(3)] within 30 days of the entry of this Final Judgment. Such payment
shall be made to the Comptroller, Securities and Exchange Commission,
Operations Center, 6432 General Green Way, Stop 0-3, Alexandria, VA 22312;
and a cover letter indicating such payment shall be sent to counsel for the
Securities and Exchange Commission, Central Regional Office, 1801 California
Street, Suite 4800, Denver, CO 80202.
IT IS FURTHER ORDERED that Defendant Herbert M. Campbell, II,
shall pay a civil penalty of $5,000 pursuant to Section 20(d) of the Securities Act
and Section 21(d)(3) of the Exchange Act within 30 days of the entry of this Final4
Judgment. Such payment shall be made to the Comptroller, Securities and
Exchange Commission, Operations Center, 6432 General Green Way, Stop 0-3,
Alexandria, VA 22312; and a cover letter indicating such payment shall be sent
to counsel for the Securities and Exchange Commission, Central Regional Office,
1801 California Street, Suite 4800, Denver, CO 80202.
IT IS FURTHER ORDERED that this Court shall retain jurisdiction of
this matter for purposes of enforcing this Final Judgment.
There being no reason for delay, the Clerk of the Court is hereby directed,
pursuant to Rule 54(b) of the Federal Rules of Civil Procedure, to enter this Final
Judgment forthwith.
Dated at Albuquerque this 16th day of May, 2000.
_______________________________
BRUCE D. BLACK
United States District Judge
Counsel for Plaintiff:
Julie K. Lutz, Thomas D. Carter, SEC, Denver, CO
Ray Hamilton, SAUSA, Albuquerque, NM
Counsel for Defendants:
Richard H. Goldberg, Friedlob Sanderson Raskin Paulson & Tourtillott,
Denver, CO
Robert A. Johnson, Karla K. Poe, Eastham Johnson Monnheimer & Jontz,
Albuquerque, NM |
