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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (14857)	3/26/2005 7:07:06 PM
From: jbIII	Respond to of 19428

I thought the Butler always did it.. 5. SEC v. Heartsoft, Inc., Benjamin Shell and Jimmy Butler (U.S. District Court, Northern District of Oklahoma) (SEC Contact: Spencer Barasch, 817-978-6425) The SEC alleges that, Benjamin P. Shell and Jimmy Butler, the principals of Heartsoft, Inc. (a developer and marketer of educational software) issued a series of fraudulent press releases that were simultaneously posted on Heartsoft's website. These releases included a myriad of false and misleading statements. During the relevant period, Heartsoft's stock price increased more than 1500 percent from $.21 to nearly $6.00 per share as a result of the false and misleading press releases. The SEC alleges that these releases were, in fact, the only public information available to investors, because the company had not filed any of its required quarterly or annual reports with the SEC from May 1, 1997 until November 1999. Further, Shell and Butler profited from their fraudulent conduct by dumping substantial amounts of their Heartsoft stock, from which they made more than $160,000 in illicit profits. Without admitting or denying the SEC's allegations, Heartsoft, Shell and Butler have consented to the entry of a permanent injunction against future violations of the antifraud and reporting provisions of the federal securities laws, and Shell and Butler have agreed to disgorge all of their trading profits, pay prejudgment interest, and pay civil monetary penalties of $50,000 each. In addition, Heartsoft has agreed to provide all public disclosures to outside counsel for review prior to release for a period of four years.