Spencer Pharmaceutical (SPPH)

[scion]

Alleged Market Manipulation - Wanderport Corp. and Neuro-Biotech inc. - New orders to freeze assets, cease trading and shut down website

Friday, December 02, 2011

Montréal – At the request of the Autorité des marchés financiers (the "AMF"), the Bureau de décision et de révision (the "Bureau") issued a decision on November 21, 2011 that expanded the scope of a decision issued in July 2011 in a matter of market manipulation involving Wanderport Corp.and Neuro-Biotech inc.

More specifically, with the consent of Jean-François Amyot and Conseils Hilbroy inc., the Bureau ordered that bank accounts be frozen and the www.glucksteinsilverspoon.com [http://www.glucksteinsilverspoon.com/ ] and www.i2cg.org [ http://www.i2cg.org/] websites be shut down. The Bureau also prohibited Jean-François Amyot, IAB Média inc. and Conseils Hilbroy inc. from carrying out any transaction in securities.

In July 2011, the Bureau issued a decision prohibiting, in particular, any transaction in the securities of Wanderport Corp. and Neuro-Biotech inc. due to alleged market manipulation. Under this decision, Wanderport Corp., 65705442 Canada inc., and Conseils Hilbroy inc. and their officers, directors and employees, as well as Jean-François Amyot, Andrea Cortellazzi and Andrew Barakett are prohibited from carrying out transactions in the securities of Wanderport Corp.

The Bureau also ordered Neuro-Biotech inc., its officers, directors and employees, as well as Andrea Cortellazzi and Serge Ollu to cease carrying out any transaction in the securities of Neuro-Biotech inc. In addition, the Bureau ordered IAB Média inc. to shut down the website "itsallbull.net," which was used to promote the securities of Wanderport Corp.

The Bureau's analysis highlighted the complexity of this matter. "What we have here is a case of market manipulation involving numerous individuals. Over the years, their tactic was to promote the securities of some of the corporate respondents in order to pump up the value. They then sold their securities and pocketed the profits generated by the inflated price," stated the Bureau in the decision issued in July.

The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial industry.

– 30 –

Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337 / Montréal: 514-395-0337 / Other areas: 1-877-525-0337

www.lautorite.qc.ca

http://www.lautorite.qc.ca/en/press-releases-2011-conso.html_2011_alleged-market-manipulation-wanderport-corp-and-neuro-biotech-inc-new-orders-to-freeze-assets-cease-trading-and-shut-down-website02-12-2011-10-5.html

[sunspotter]

"135. The information upon which the SEC relies in the Complaint was derived from information improperly taken from Amyot by the Quebec authorities."

I assume this is from the ongoing AMF case against Amyot, Barakett et al in connection with Wanderport and a couple of other rather obvious scams, where the computers were seized:

http://www.lautorite.qc.ca/en/press-releases-2011-conso.html_2011_alleged-market-manipulation-wanderport-corp-and-neuro-biotech-inc-new-orders-to-freeze-assets-cease-trading-and-shut-down-website02-12-2011-10-5.html

[scion]

133. Defendants are not subject to the jurisdiction of this Court due to Plaintiff’s failure to effect proper service on the same as required under federal and international law.

AS AND FOR A SEVENTH AFFIRMATIVE DEFENSE

134. The injuries and damages alleged to have been suffered by the persons listed by Plaintiff in its discovery production were caused in whole or in part by the conduct of persons or entities other than Defendant Amyot. Therefore the SEC’s claims are barred or diminished in the proportion that such culpable conduct of other persons or entities bear to the total culpable conduct causing damages.


AS AND FOR AN EIGHTH AFFIRMATIVE DEFENSE

135. The information upon which the SEC relies in the Complaint was derived from information improperly taken from Amyot by the Quebec authorities. The taking was part of an impermissible search and seizure. Thus, the SEC’s information is based on “fruit of the poisonous tree.”


WHEREFORE, Defendant Amyot demands judgment dismissing the Plaintiff’s Complaint and such other and further relief as the Court deems just and proper. A jury trial is demanded.

Dated: New York, New York
September 6, 2013

[samsamsamiam]

so basically he is denying everything.

That would be a great jury trial to be at!

This was interesting:

AS AND FOR AN EIGHTH AFFIRMATIVE DEFENSE

135. The information upon which the SEC relies in the Complaint was derived from information improperly taken from Amyot by the Quebec authorities. The taking

was part of an impermissible search and seizure. Thus, the SEC’s information is based on “fruit of the poisonous tree [/I]
.

”

[scion]

09/06/2013 48 ANSWER to 1 Complaint, with Jury Demand by Jean-Francois Amyot.(Uretsky, Jonathan) (Entered: 09/06/2013)

Doc 48 PDF file
http://www.scribd.com/doc/183644964/SEC-v-Spencer-Pharmaceutical-Inc-Et-Al-Doc-48-Filed-06-Sep-13

[scion]

Pacer update 06 Sep 13 - SEC v. Spencer Pharmaceutical Inc et al CIVIL DOCKET FOR CASE #: 1:12-cv-12334-WGY

https://ecf.mad.uscourts.gov/cgi-bin/iquery.pl

Date Filed # Docket Text

09/06/2013 50 ANSWER to 1 Complaint, with Jury Demand by Hilbroy Advisory Inc..(Uretsky, Jonathan) (Entered: 09/06/2013)

09/06/2013 49 ANSWER to 1 Complaint, with Jury Demand by IAB Media Inc..(Uretsky, Jonathan) (Entered: 09/06/2013)

09/06/2013 48 ANSWER to 1 Complaint, with Jury Demand by Jean-Francois Amyot.(Uretsky, Jonathan) (Entered: 09/06/2013)


United States District Court
District of Massachusetts (Boston)
CIVIL DOCKET FOR CASE #: 1:12-cv-12334-WGY

Securities and Exchange Commission v. Spencer Pharmaceutical Inc et al
Assigned to: Judge William G. Young
Cause: 12:22 Securities Fraud
Date Filed: 12/17/2012
Jury Demand: Plaintiff
Nature of Suit: 850 Securities/Commodities
Jurisdiction: U.S. Government Plaintiff

Plaintiff
Securities and Exchange Commission
represented by Amy Gwiazda
United States Securities and Exchange Commission
33 Arch Street
23rd Flr.
Boston, MA 02110-1424
617-573-8839
Email: [e-mail]
LEAD ATTORNEY
ATTORNEY TO BE NOTICED

James R. Drabick
Securities and Exchange Commission - MA
33 Arch Street
23rd Floor
Boston, MA 02110-1424
617-573-4535
Email: [e-mail]
LEAD ATTORNEY
ATTORNEY TO BE NOTICED

Franklin C. Huntington , IV
Securities and Exchange Commission
33 Arch Street
23rd Floor
Boston, MA 02110
617-573-8960
Fax: [phone]
Email: [e-mail]
ATTORNEY TO BE NOTICED


V.
Defendant
Spencer Pharmaceutical Inc

Defendant
Jean-Francois Amyot
represented by Faun M. Phillipson
Phillipson & Uretsky LLP
111 Broadway
8th Floor
New York, NY 10006
212-571-1255
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Jonathan C. Uretsky
Phillipson & Uretsky LLP
111 Broadway
8th Floor
New York, NY 10006
212-571-1255
Email: [e-mail]
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Mitchell R. Edwards
Hinckley Allen Snyder LLP
Suite 1500
50 Kennedy Plaza
Providence, RI 02903
401-274-2000
Fax: [phone]
Email: [e-mail]
ATTORNEY TO BE NOTICED

Defendant
Maximilien Arella
represented by Maximilien Arella
586 Giraud
Laval, QC H7X 3J6
Canada
514-995-9874
PRO SE

Defendant
Ian Morrice
represented by Ian Morrice
9 Okanagan Drive
Nepean, ON K2H 7E7
Canada
613-808-0542
PRO SE

Defendant
IAB Media Inc.
represented by Faun M. Phillipson
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Jonathan C. Uretsky
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Mitchell R. Edwards
(See above for address)
ATTORNEY TO BE NOTICED

Defendant
Hilbroy Advisory Inc.
represented by Faun M. Phillipson
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Jonathan C. Uretsky
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Mitchell R. Edwards
(See above for address)
ATTORNEY TO BE NOTICED

https://ecf.mad.uscourts.gov/cgi-bin/iquery.pl

[scion]

Pacer update 23 Jul 13 - SEC v. Spencer Pharmaceutical Inc et al CIVIL DOCKET FOR CASE #: 1:12-cv-12334-WGY

https://ecf.mad.uscourts.gov/cgi-bin/iquery.pl

Date Filed # Docket Text

07/15/2013 47 ELECTRONIC Clerk's Notes for proceedings held before Judge William G. Young: Motion Hearing held on 7/15/2013 re 18 MOTION to Dismiss for Lack of Jurisdiction filed by Jean-Francois Amyot, 22 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM filed by Jean-Francois Amyot, 24 MOTION to Dismiss for Lack of Jurisdiction filed by Hilbroy Advisory Inc., IAB Media Inc., 20 MOTION to Dismiss for forum non conveniens filed by Jean-Francois Amyot, 26 MOTION to Dismiss for forum non conveniens filed by Hilbroy Advisory Inc., IAB Media Inc. The Motion to transfer case to Canada is denied. The Court hears arguments on the pending motions to dismiss and enters an Order denying without prejudice as to all motions. (Court Reporter: Donald Womack at [e-mail].)(Attorneys present: Drabick, Gwiazda for the pltf., Uretsky, Edwards for the deft.) (Gaudet, Jennifer) (Entered: 07/23/2013)

07/08/2013 46 Disclosure pursuant to Rule 26 by Ian Morrice.(Paine, Matthew) (Entered: 07/08/2013)

06/05/2013 45 AFFIDAVIT of Jonathan Uretsky in Support re 18 MOTION to Dismiss for Lack of Jurisdiction Reply In Further support of Motion filed by Jean-Francois Amyot. (Attachments: # 1 Ex 1)(Uretsky, Jonathan) (Entered: 06/05/2013)

06/05/2013 44 REPLY to Response to 18 MOTION to Dismiss for Lack of Jurisdiction filed by Jean-Francois Amyot. (Uretsky, Jonathan) (Entered: 06/05/2013)

06/05/2013 43 AFFIDAVIT of Jonathan Uretsky in Support re 24 MOTION to Dismiss for Lack of Jurisdiction Reply In Further support of Motion filed by Hilbroy Advisory Inc., IAB Media Inc.. (Attachments: # 1 Ex 1)(Uretsky, Jonathan) (Entered: 06/05/2013)

06/05/2013 42 REPLY to Response to 24 MOTION to Dismiss for Lack of Jurisdiction filed by Hilbroy Advisory Inc., IAB Media Inc.. (Uretsky, Jonathan) (Entered: 06/05/2013)

06/05/2013 41 AFFIDAVIT of Jonathan Uretsky in Support re 22 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM Reply In Further support of Motion filed by Jean-Francois Amyot. (Attachments: # 1 Ex. 1)(Uretsky, Jonathan) (Entered: 06/05/2013)

06/05/2013 40 REPLY to Response to 22 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM filed by Jean-Francois Amyot. (Uretsky, Jonathan) (Entered: 06/05/2013)

06/05/2013 39 REPLY to Response to 20 MOTION to Dismiss for forum non conveniens filed by Jean-Francois Amyot. (Uretsky, Jonathan) (Entered: 06/05/2013)

06/05/2013 38 REPLY to Response to 26 MOTION to Dismiss for forum non conveniens filed by Hilbroy Advisory Inc., IAB Media Inc.. (Uretsky, Jonathan) (Entered: 06/05/2013)

06/04/2013 37 AFFIDAVIT OF SERVICE Executed by Securities and Exchange Commission. IAB Media Inc. served on 4/8/2013, answer due 4/29/2013. Acknowledgement filed by Securities and Exchange Commission. (Huntington, Franklin) (Entered: 06/04/2013)

06/04/2013 36 AFFIDAVIT OF SERVICE Executed by Securities and Exchange Commission. Hilbroy Advisory Inc. served on 4/8/2013, answer due 4/29/2013. Acknowledgement filed by Securities and Exchange Commission. (Huntington, Franklin) (Entered: 06/04/2013)

06/04/2013 35 AFFIDAVIT OF SERVICE Executed by Securities and Exchange Commission. Jean-Francois Amyot served on 4/8/2013, answer due 4/29/2013. Acknowledgement filed by Securities and Exchange Commission. (Huntington, Franklin) (Entered: 06/04/2013)

05/31/2013 34 Second MEMORANDUM in Opposition re 22 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM , 20 MOTION to Dismiss for forum non conveniens, 18 MOTION to Dismiss for Lack of Jurisdiction , 24 MOTION to Dismiss for Lack of Jurisdiction , 26 MOTION to Dismiss for forum non conveniens (Conforming to Local Rule 7.1(b)(4) - 20 Pages) filed by Securities and Exchange Commission. (Attachments: # 1 Declaration of James R. Drabick in Support of Plaintiff's Opposition, # 2 Exhibit 1, # 3 Exhibit 2, # 4 Exhibit 3, # 5 Exhibit 4, # 6 Exhibit 5, # 7 Exhibit 6, # 8 Exhibit 7, # 9 Exhibit 8, # 10 Exhibit 9, # 11 Exhibit 10, # 12 Exhibit 11, # 13 Exhibit 12)(Drabick, James) (Entered: 05/31/2013)

05/31/2013 33 Judge William G. Young: ELECTRONIC ORDER entered denying 30 Motion for Leave to File Excess Pages (Paine, Matthew) (Entered: 05/31/2013)

05/29/2013 32 MEMORANDUM in Opposition re 22 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM , 20 MOTION to Dismiss for forum non conveniens, 18 MOTION to Dismiss for Lack of Jurisdiction , 24 MOTION to Dismiss for Lack of Jurisdiction , 26 MOTION to Dismiss for forum non conveniens filed by Securities and Exchange Commission. (Attachments: # 1 Declaration of James R. Drabick in Support of Plaintiff's Opposition, # 2 Exhibit 1, # 3 Exhibit 2, # 4 Exhibit 3, # 5 Exhibit 4, # 6 Exhibit 5, # 7 Exhibit 6, # 8 Exhibit 7, # 9 Exhibit 8, # 10 Exhibit 9, # 11 Exhibit 10, # 12 Exhibit 11, # 13 Exhibit 12)(Drabick, James) (Entered: 05/29/2013)
05/29/2013 31 NOTICE of Appearance by Amy Gwiazda on behalf of Securities and Exchange Commission (Gwiazda, Amy) (Entered: 05/29/2013)

05/29/2013 30 Assented to MOTION for Leave to File Excess Pages by Securities and Exchange Commission.(Drabick, James) (Entered: 05/29/2013)

05/20/2013 29 ELECTRONIC NOTICE Setting Hearing on Motion 20 MOTION to Dismiss for forum non conveniens, 26 MOTION to Dismiss for forum non conveniens, 18 MOTION to Dismiss for Lack of Jurisdiction , 22 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM , 24 MOTION to Dismiss for Lack of Jurisdiction : Motion Hearing set for 7/15/2013 02:00 PM in Courtroom 18 before Judge William G. Young. Responses due 5/29/2013. Reply briefs, if any, are due on or before 6/5/2013. (Gaudet, Jennifer) (Entered: 05/20/2013)

05/16/2013 28 ELECTRONIC NOTICE issued requesting courtesy copy for 25 Memorandum in Support of Motion, 21 Memorandum in Support of Motion, 18 MOTION to Dismiss for Lack of Jurisdiction , 22 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM , 19 Memorandum in Support of Motion, 27 Memorandum in Support of Motion, 24 MOTION to Dismiss for Lack of Jurisdiction , 23 Memorandum in Support of Motion, 20 MOTION to Dismiss for forum non conveniens, 26 MOTION to Dismiss for forum non conveniens. Counsel who filed this document are requested to submit a courtesy copy of this document (or documents) to the Clerk's Office attention Matt Paine - Docket Clerk - Judge Young. These documents must be clearly marked as a Courtesy Copy and reflect the document number assigned by CM/ECF. (Paine, Matthew) (Entered: 05/16/2013)

05/15/2013 27 MEMORANDUM in Support re 26 MOTION to Dismiss for forum non conveniens filed by Hilbroy Advisory Inc., IAB Media Inc.. (Uretsky, Jonathan) (Entered: 05/15/2013)

05/15/2013 26 MOTION to Dismiss for forum non conveniens by Hilbroy Advisory Inc., IAB Media Inc..(Uretsky, Jonathan) (Entered: 05/15/2013)

05/15/2013 25 MEMORANDUM in Support re 24 MOTION to Dismiss for Lack of Jurisdiction filed by Hilbroy Advisory Inc., IAB Media Inc.. (Uretsky, Jonathan) (Entered: 05/15/2013)

05/15/2013 24 MOTION to Dismiss for Lack of Jurisdiction by Hilbroy Advisory Inc., IAB Media Inc..(Uretsky, Jonathan) (Entered: 05/15/2013)

05/15/2013 23 MEMORANDUM in Support re 22 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM filed by Jean-Francois Amyot. (Uretsky, Jonathan) (Entered: 05/15/2013)

05/15/2013 22 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM by Jean-Francois Amyot.(Uretsky, Jonathan) (Entered: 05/15/2013)

05/15/2013 21 MEMORANDUM in Support re 20 MOTION to Dismiss for forum non conveniens filed by Jean-Francois Amyot. (Uretsky, Jonathan) (Entered: 05/15/2013)

05/15/2013 20 MOTION to Dismiss for forum non conveniens by Jean-Francois Amyot.(Uretsky, Jonathan) (Entered: 05/15/2013)

05/15/2013 19 MEMORANDUM in Support re 18 MOTION to Dismiss for Lack of Jurisdiction filed by Jean-Francois Amyot. (Uretsky, Jonathan) (Entered: 05/15/2013)

05/15/2013 18 MOTION to Dismiss for Lack of Jurisdiction by Jean-Francois Amyot.(Uretsky, Jonathan) (Entered: 05/15/2013)

05/09/2013 17 Judge William G. Young: ELECTRONIC ORDER entered granting 15 Motion for Leave to Appear Pro Hac Vice; granting 16 Motion for Leave to Appear Pro Hac Vice. Added Faun M. Phillipson and Jonathan C. Uretsky. Attorneys admitted Pro Hac Vice must register for electronic filing if the attorney does not already have an ECF account in this district. To register go to the Court website at www.mad.uscourts.gov. Select Case Information, then Electronic Filing (CM/ECF) and go to the CM/ECF Registration Form. (Paine, Matthew) (Entered: 05/09/2013)

05/08/2013 16 MOTION for Leave to Appear Pro Hac Vice for admission of Faun M. Phillipson Filing fee: $ 100, receipt number 0101-4445911 by Jean-Francois Amyot, Hilbroy Advisory Inc., IAB Media Inc.. (Attachments: # 1 Affidavit)(Edwards, Mitchell) (Entered: 05/08/2013)

05/08/2013 15 MOTION for Leave to Appear Pro Hac Vice for admission of Jonathan C. Uretsky Filing fee: $ 100, receipt number 0101-4445836 by Jean-Francois Amyot, Hilbroy Advisory Inc., IAB Media Inc.. (Attachments: # 1 Affidavit)(Edwards, Mitchell) (Entered: 05/08/2013)

05/08/2013 14 NOTICE of Appearance by Mitchell R. Edwards on behalf of Jean-Francois Amyot, Hilbroy Advisory Inc., IAB Media Inc. (Edwards, Mitchell) (Entered: 05/08/2013)

05/01/2013 13 Set/Reset Hearings: Ready for Trial on 5/5/2014 09:00 AM in Courtroom 18 before Judge William G. Young. (Gaudet, Jennifer) (Entered: 05/01/2013)

04/30/2013 12 ELECTRONIC Clerk's Notes for proceedings held before Judge William G. Young: Scheduling Conference held on 4/30/2013. The Court explains the requirements of the session. The parties do not want to proceed before a magistrate judge. The case is to go to ADR as of January 2014. The case is placed on the running trial list as of May 2104. A Final Pretrial Conference will be set for the month of April 2014. A joint proposed case management schedule is not required. Any motions for summary judgment shall be filed atleast three months prior to trial month. The pro se defendants are advised that counsel needs to be retained for the corporation defendant(s). (Court Reporter: No Court Reporter Used.) (Gaudet, Jennifer) (Entered: 05/01/2013)

04/16/2013 11 STATUS REPORT Regarding Service of Process and Defendants' Representation by Securities and Exchange Commission. (Drabick, James) (Entered: 04/16/2013)

04/16/2013 10 NOTICE of Appearance by James R. Drabick on behalf of Securities and Exchange Commission (Drabick, James) (Entered: 04/16/2013)

03/22/2013 9 NOTICE of Scheduling Conference. Scheduling Conference set for 4/30/2013 02:00 PM in Courtroom 18 before Judge William G. Young. (Gaudet, Jennifer) (Entered: 03/22/2013)

03/19/2013 8 ANSWER to 1 Complaint, by Ian Morrice.(Paine, Matthew) (Entered: 03/19/2013)

03/19/2013 7 ANSWER to 1 Complaint, by Maximilien Arella.(Paine, Matthew) (Entered: 03/19/2013)

01/30/2013 6 SUMMONS Returned Executed Ian Morrice served on 1/23/2012, answer due 2/13/2012. (Huntington, Franklin) (Entered: 01/30/2013)

01/30/2013 5 SUMMONS Returned Executed Maximilien Arella served on 1/21/2013, answer due 2/11/2013. (Huntington, Franklin) (Entered: 01/30/2013)

12/28/2012 4 SUMMONS Returned Executed Spencer Pharmaceutical Inc served on 12/28/2012, answer due 1/18/2013. (Huntington, Franklin) (Entered: 12/28/2012)

12/17/2012 3 Summons Issued as to Jean-Francois Amyot, Maximilien Arella, Hilbroy Advisory Inc., IAB Media Inc., Ian Morrice, Spencer Pharmaceutical Inc. Counsel receiving this notice electronically should download this summons, complete one for each defendant and serve it in accordance with Fed.R.Civ.P. 4 and LR 4.1. Summons will be mailed to plaintiff(s) not receiving notice electronically for completion of service. (Danieli, Chris) (Entered: 12/17/2012)

12/17/2012 2 ELECTRONIC NOTICE of Case Assignment. Judge William G. Young assigned to case. If the trial Judge issues an Order of Reference of any matter in this case to a Magistrate Judge, the matter will be transmitted to Magistrate Judge Judith G. Dein. (Abaid, Kimberly) (Entered: 12/17/2012)

12/17/2012 1 COMPLAINT against IAB Media Inc., Maximilien Arella, Jean-Francois Amyot, Hilbroy Advisory Inc., Spencer Pharmaceutical Inc, Ian Morrice (Fee Status: US Government), filed by Securities and Exchange Commission. (Attachments: # 1 Civil Cover Sheet, # 2 Category Sheet)(Huntington, Franklin) (Entered: 12/17/2012)


United States District Court
District of Massachusetts (Boston)
CIVIL DOCKET FOR CASE #: 1:12-cv-12334-WGY

Securities and Exchange Commission v. Spencer Pharmaceutical Inc et al
Assigned to: Judge William G. Young
Cause: 12:22 Securities Fraud
Date Filed: 12/17/2012
Jury Demand: Plaintiff
Nature of Suit: 850 Securities/Commodities
Jurisdiction: U.S. Government Plaintiff

Plaintiff
Securities and Exchange Commission
represented by Amy Gwiazda
United States Securities and Exchange Commission
33 Arch Street
23rd Flr.
Boston, MA 02110-1424
617-573-8839
Email: [e-mail]
LEAD ATTORNEY
ATTORNEY TO BE NOTICED

James R. Drabick
Securities and Exchange Commission - MA
33 Arch Street
23rd Floor
Boston, MA 02110-1424
617-573-4535
Email: [e-mail]
LEAD ATTORNEY
ATTORNEY TO BE NOTICED

Franklin C. Huntington , IV
Securities and Exchange Commission
33 Arch Street
23rd Floor
Boston, MA 02110
617-573-8960
Fax: [phone]
Email: [e-mail]
ATTORNEY TO BE NOTICED


V.
Defendant
Spencer Pharmaceutical Inc

Defendant
Jean-Francois Amyot
represented by Faun M. Phillipson
Phillipson & Uretsky LLP
111 Broadway
8th Floor
New York, NY 10006
212-571-1255
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Jonathan C. Uretsky
Phillipson & Uretsky LLP
111 Broadway
8th Floor
New York, NY 10006
212-571-1255
Email: [e-mail]
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Mitchell R. Edwards
Hinckley Allen Snyder LLP
Suite 1500
50 Kennedy Plaza
Providence, RI 02903
401-274-2000
Fax: [phone]
Email: [e-mail]
ATTORNEY TO BE NOTICED

Defendant
Maximilien Arella
represented by Maximilien Arella
586 Giraud
Laval, QC H7X 3J6
Canada
514-995-9874
PRO SE

Defendant
Ian Morrice
represented by Ian Morrice
9 Okanagan Drive
Nepean, ON K2H 7E7
Canada
613-808-0542
PRO SE

Defendant
IAB Media Inc.
represented by Faun M. Phillipson
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Jonathan C. Uretsky
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Mitchell R. Edwards
(See above for address)
ATTORNEY TO BE NOTICED

Defendant
Hilbroy Advisory Inc.
represented by Faun M. Phillipson
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Jonathan C. Uretsky
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED

Mitchell R. Edwards
(See above for address)
ATTORNEY TO BE NOTICED

https://ecf.mad.uscourts.gov/cgi-bin/iquery.pl

[sunspotter]

From nodummy, an update on the SEC case against SPPH's chief crook, Jean François Amyot:

"SPPH - Jean-Francois Amyot has lost his motion to have civil charges thrown out that he faces in the U.S. for the pump-and-dump of Spencer Pharmaceuticals Inc

www.stockwatch.com/News/Item.aspx?bid=Z-C:*SEC-2089631&symbol=*SEC®ion=C

Quebec's Jean-Francois Amyot has lost his motion to have civil charges thrown out that he faces in the U.S. for the pump-and-dump of Spencer Pharmaceuticals Inc. A judge denied the motion after the U.S. Securities and Exchange Commission said Mr. Amyot, 40, "unabashedly orchestrated" the scheme. Among other things, he helped arrange a bogus takeover for Spencer, the SEC claimed.

The charges against Mr. Amyot stem from the 2010 promotion of Spencer Pharmaceuticals, a company that purportedly had a patent related to the absorption of drugs. The SEC claimed that he and others boosted the stock with a number of misleading news releases that culminated in a false $245-million takeover offer for the company. (All figures are in U.S. dollars.) Mr. Amyot, who had been an officer and director of Spencer, sold $5.8-million worth of stock during the scheme, according to the SEC.

Mr. Amyot filed the motion to dismiss the charges on May 15, 2013, arguing that there was nothing to connect him with any sales of Spencer stock. The SEC had named two funds that sold shares during the scheme, but Mr. Amyot denied having control over either one. He said the funds were held at a brokerage in the Bahamas for the benefit of a Panamanian company. Mr. Amyot also said the pump-and-dump started long after he was an officer or director of Spencer."

http://www.stockwatch.com/News/Item.aspx?bid=Z-C:*SEC-2089631&symbol=*SEC®ion=C

[frontloading]

And to think I received an email threat from max to sue for slandering his good name. The luncheon photo in Canada with the Saudi gig wigs just came to mind...max, could you set the record straight on that staged photo..one detail I was never able to pin down to my satisfaction. Sunspotter, very nice job with lengthy spph DD. kudos in exposing another scam.

[diane1]

Yes you did try to warn me, it was my first investing experience and I lost a great deal of money, I wasn't ready to pull out at a loss but the loss only got worse.

[sunspotter]

It means, I'm afraid, that your money has gone for ever.

Diane, I did try to warn you.

It was clear from the start that SPPH was a criminal conspiracy to steal your money.

[diane1]

So what does this all mean for those of us that lost our butts on this stock?

[scion]

04/16/2013 11 STATUS REPORT Regarding Service of Process and Defendants' Representation by Securities and Exchange Commission. (Drabick, James) (Entered: 04/16/2013)

Doc 11 PDF file
http://www.scribd.com/doc/136267896/SEC-v-Spencer-Pharmaceutical-Inc-Et-Al-Doc-11-Filed-16-Apr-13

Extract -

The SEC effected service of process on the lone Defendant with an address in the United States, Spencer Pharmaceutical Inc., on December 28, 2012, and filed a proof of service with the Court that same day. (Dkt. #4). The SEC effected service of process on Defendants Maximilien Arella (Laval, Quebec) and Ian Morrice (Ottawa, Ontario) via international registered mail on January 21, 2013, and January 23, 2013, respectively, and filed proofs of service on January 30, 2013. (Dkts. #5, 6).1 Finally, the SEC effected service of process on the three remaining Defendants – Jean-François Amyot, IAB Media Inc., and Hilbroy Advisory Inc. – in the Bahamas on April 8, 2013, via personal service on Defendant Amyot. The SEC is in the process of obtaining executed proofs of service for these three defendants from the process server and will file the proofs of service with the Court as soon as they are prepared.

Defendants Proceeding Pro Se

In advance of the scheduling conference scheduled for April 30, 2013, the SEC also respectfully provides notice that it understands that one or more of the Defendants are proceeding pro se in this matter, at least initially.

Accordingly, pursuant to Footnote 3 of the Court’s Notice of Scheduling Conference (Dkt. # 9), the SEC anticipates that the parties will not file a joint statement pursuant to Local Rule 16.1 prior to the scheduling conference.

[scion]

Pacer update 16 Apr 13 SEC v. Spencer Pharmaceutical Inc et al CIVIL DOCKET FOR CASE #: 1:12-cv-12334-WGY

https://ecf.mad.uscourts.gov/cgi-bin/iquery.pl

Date Filed # Docket Text

04/16/2013 11 STATUS REPORT Regarding Service of Process and Defendants' Representation by Securities and Exchange Commission. (Drabick, James) (Entered: 04/16/2013)

04/16/2013 10 NOTICE of Appearance by James R. Drabick on behalf of Securities and Exchange Commission (Drabick, James) (Entered: 04/16/2013)


United States District Court

District of Massachusetts (Boston)

Securities and Exchange Commission v. Spencer Pharmaceutical Inc et al
Assigned to: Judge William G. Young

Cause: 12:22 Securities Fraud
Date Filed: 12/17/2012
Jury Demand: Plaintiff
Nature of Suit: 850 Securities/Commodities
Jurisdiction: U.S. Government Plaintiff

Plaintiff
Securities and Exchange Commission
represented by Franklin C. Huntington , IV
Securities and Exchange Commission
33 Arch Street
23rd Floor
Boston, MA 02110
617-573-8960
Fax: [phone]
Email: [e-mail]
ATTORNEY TO BE NOTICED


V.
Defendant
Spencer Pharmaceutical Inc

Defendant
Jean-Francois Amyot

Defendant
Maximilien Arella

Defendant
Ian Morrice

Defendant
IAB Media Inc.

Defendant
Hilbroy Advisory Inc.

https://ecf.mad.uscourts.gov/cgi-bin/iquery.pl

[scion]

20.37 I ignored the previous business practices of Mr Amyot. If the SEC knew about his business practices as of 2009, I am surprised that they agreed to allow the new administration of Spencer Pharmaceutical to enter into an agreement with Mr Amyot. People surrounding Mr Amyot from the beginning and according to his own words and all of the members of his office were high level political figures very close to the Canadian prime Ministers and some of cabinets ministers and senators. This was one of the reasons that I accepted to license part of the science signed in my private Canadian company (4413261 Canada Inc) into the public vehicle that was offered to me and the scientists.

OCR extract
Doc 7 PDF file
http://www.scribd.com/doc/136035469/SEC-v-Spencer-Pharmaceutical-Inc-Et-Al-Doc-7-19-Mar-13

[scion]

20.51 to 20.77 First and as far as I am concerned I was not involved in a pump-and-dump scheme and I was not at the origin of the purported Buy-out Offer. All the citations of the press-releases are true. But all the paragraphs added in the complaint are "tendentious and misleading" about my role in this Offer. As far as I am concerned, we received an offer that we took seriously since it was supported by a staff member of the Canadian Senate (Mr Rami Ailabouni) that assured us of the seriousness of the people behind the offer. Also, and contrary to what the SEC is claiming, the company was conducting and in the advancing high-value research and development projects and the scientific content is real and of world class level with an inestimable value. If there was a scheme, I was not aware of such a scheme since I acted purely with the help of people surrounding me and of any available help that was at my possibility. I also took steps to make sure that everything was appropriate on my response to the Offer and asked many times Mr Emas and Mr Morrice to help me and advising me on the process of the Offer. Also, starting in January I asked a personal friend lawyer, Mr Claude Boulanger, to help me on the assessment of the Offer and the proper response during the course of a due­ diligence. Retrospectively now it is clear for me that I was a victim of a scheme but at the time I was not aware of that and firmly deny any wrong doing from my part. As far as the offer of the Al-Dorra and later Hail-First-Pharma group are concerned I will comment later during my defense the step-to-step initiatives that I took to ensure that we were properly evaluating this business-opportunity offered to the Company. It is also important to mention that starting in January 2011 few press­ releases were issued by Hail-First-Pharma. I learned the content of these press­ releases when I was informed by my colleagues that saw them in the wire services. I was never involved in any way in these press-releases related to Hail-First­ Pharma.


OCR extract
Doc 7 PDF file
http://www.scribd.com/doc/136035469/SEC-v-Spencer-Pharmaceutical-Inc-Et-Al-Doc-7-19-Mar-13

[sunspotter]

Thank you, scion, for these helpful updates.

I am afraid Dr. Arella is being disingenuous.

His statements about the worth of SPPH's "technology", its state of development and its route to market were all clearly false, and some one with his background knew them to be false. Indeed I drew this to his atention via emails and this message board on numerous occasions before he allegedly became concerned at the beginning of 2011.

[scion]

10. All of the press-releases and public information disseminated by the company were based on documents and facts (written messages, letters an faxes) and confirmed by a certain number of credible people (for instance the Middle-East connection was brought by a member of the Canadian Senate and Mr Amyot was always mentioning his tight links with the Canadian government (Ministers and Senators). I verified personally this link since I actually met in person in the office of Mr Amyot with one of the top political organizers (Mr Pierre Coulombe) of the Prime Minister of Canada and two prominent senators (Senator Larry Smith and Senator Leo Housakos) that spoke highly of Mr Amyot during a private political fund-raising dinner in March 2011.

Privy Council Office
www.pco-bcp.gc.ca

[...]
Her Excellency the Governor General in Council, on the recommendation of the Prime Minister, hereby fixes the salary of Pierre Coulombe, former President, National Research Council of Canada, as set out in the schedule hereto, which salary is within the range GC 10 ($242,700 - $285,600), effective February 13, 2010.

http://www.pco-bcp.gc.ca/oic-ddc.asp?dosearch=zrsbpxmmcikjl&viewattach=23403&pg=18

[scion]

DEFENSE by : MAXIMILIEN ARELLA

PRELIMINARY STATEMENT

1. I totally deny all of the allegations made by the SEC as presented in their document since they wrongly implicate me in a pump-and-dump scheme

2. The way the SEC is presenting my implication in this case is wrong and is full of mistakes.

3. I realize today that my scientific experience and my projects were used against my will in a possible pump-and-dump scheme

4. I have not participated voluntarily or knowingly in this pump-and-dump scheme as described by the SEC. I may have been naive in some circumstances but I can solemnly reaffirm that never took advantage of any sale of shares either directly or indirectly

5. During all my career as a scientist I developed a diversified expertise in pharmaceutical products development and by joining the company (Spencer Pharmaceuticals) my intention was to develop products based on my network of contacts in the science and technology sector related to my previous experience. I was assured by Mr Amyot and all of his co-workers and colleagues that they were raising working capital to sustain the R & D that I was developing with well known researchers. I strongly reject the assertion made by the SEC that the company had no valid technology.

6. During my tenure as CEO of the company I took reasonable precautions in order to make sure that all of the governing of the company was done properly. All of the science-related press-releases were reviewed by the collaborating professors and the legal Department of the Universities, when the buy-out offer was received I asked to include in the body-text of the release and not only in the disclaimer that we were surprised but also starting a due-diligence, I hired consultants and investigate the people behind the proposal, hired a consultant working as a full­ staff of the Canadian Senate, asked the i.d. of the person representing the Kuwait company (Mr Hussein Al-Awaid), asked to meet and discuss the transaction with a lawyer designated by the offeror.

7. All the Press-Releases were published only after they were reviewed with the proper information by a lawyer (Mr J. Emas) that also participated in all of the meetings of our board. Mr Emas was paid to advice us also during the due­ diligence period when we submitted a certain number of documents to the Al­ Dorra-Hail-First-Phrma designated lawyer. A copy of these documents (thousands of pages) were sent to the SEC at the request of Mrs Amy Gwidza in the spring-summer of 2011.

8. I was later informed, approximately at the end of spring of 2011, that the lawyer advising Spencer was also involved in previous business transactions with Mr Amyot.

9. I have always conducted the business of the company in good faith and giving priority to the interests of the company and of the shareholders. I brought in the company real and credible R & D projects and when the transaction was concluded with the public company I had the insurance by Mr Amyot and his many collaborators in his office that the investors in the public shell offered (Spencer Pharmaceutical) were going to invest sufficient funds to bring the projects to the next level of development that would allow out-licensing agreements with major Pharmaceuticals companies.

10. All of the press-releases and public information disseminated by the company were based on documents and facts (written messages, letters an faxes) and confirmed by a certain number of credible people (for instance the Middle-East connection was brought by a member of the Canadian Senate and Mr Amyot was always mentioning his tight links with the Canadian government (Ministers and Senators). I verified personally this link since I actually met in person in the office of Mr Amyot with one of the top political organizers (Mr Pierre Coulombe) of the Prime Minister of Canada and two prominent senators (Senator Larry Smith and Senator Leo Housakos) that spoke highly of Mr Amyot during a private political fund-raising dinner in March 2011.

11. With the only exception of a minimal part of a salary that I received during my tenure as CEO of the company (only about 30% approximately of the salary agreed upon by contract) I never took any other personal gain from my position as the business and the scientific leader of the company. I actually continued to invest my time and my money to continue the operations of the company after the summer of 2011.

12. I never took any advantage or personal gain from selling shares as described by the SEC.

13. I never sold any shares of Spencer Pharmaceutical either directly or indirectly or by another person related or in conjunction with me.

14. I noticed that the volume of shares was higher than expected but I never taught that this was deliberately linked to manoeuvres as described in the SEC prosecution. However, I was aware, as allow by the laws, that the old shareholders of Spencer Pharmaceutical from the Reverse Take Over were legally allowed to sell their shares.

15. I never opened a bank or a brokerage account outside of Canada either directly or indirectly or through intermediaries and I never had such account either before or after the period of time covered by this investigation.

16. Although I questioned to Mr J. Emas about this transaction at its beginning and wanted to ask the authorities to investigate (and I was not encouraged to do so in early December 2010 ) I started to have more serious doubts about this transaction when I consulted a Canadian lawyer (Mr Claude Boulanger) at the beginning of 2011.

17. Starting in January 2011, I refused to sign documents (offers related to the buy­ out) that were presented by Mr Amyot and Mr Al-Awaid to replace the all cash buy-out to a share transaction with a supposedly another affiliate (Hail First Pharma). I asked more financial assurance about HFP, since I never received such assurance I rejected even the signature of a Letter-of-intent.

18. As of today, I am now under prosecution by the SEC as if I was an active participant in a pump-and-dump scheme and as if I was an important financial beneficiary of such a scheme.

19. In order to clearly establish the facts, as they happened, I will prepare and describe the facts as they occurred and my personal implication with a chronology of events that will be later submitted with supportive evidence of what I wrote in the above points.


OCR extract
Doc 7 PDF file
http://www.scribd.com/doc/136035469/SEC-v-Spencer-Pharmaceutical-Inc-Et-Al-Doc-7-19-Mar-13

[scion]

03/19/2013 8 ANSWER to 1 Complaint, by Ian Morrice.(Paine, Matthew) (Entered: 03/19/2013)

Doc 8 PDF file
http://www.scribd.com/doc/136035729/SEC-v-Spencer-Pharmaceutical-Inc-Et-Al-Doc-8-19-Mar-13

[scion]

03/19/2013 7 ANSWER to 1 Complaint, by Maximilien Arella.(Paine, Matthew) (Entered: 03/19/2013)

Doc 7 PDF file
http://www.scribd.com/doc/136035469/SEC-v-Spencer-Pharmaceutical-Inc-Et-Al-Doc-7-19-Mar-13

[scion]

Pacer update 22 Mar 13 SEC v. Spencer Pharmaceutical Inc et al CIVIL DOCKET FOR CASE #: 1:12-cv-12334-WGY

https://ecf.mad.uscourts.gov/cgi-bin/iquery.pl

Date Filed # Docket Text

03/22/2013 9 NOTICE of Scheduling Conference. Scheduling Conference set for 4/30/2013 02:00 PM in Courtroom 18 before Judge William G. Young. (Gaudet, Jennifer) (Entered: 03/22/2013)

03/19/2013 8 ANSWER to 1 Complaint, by Ian Morrice.(Paine, Matthew) (Entered: 03/19/2013)

03/19/2013 7 ANSWER to 1 Complaint, by Maximilien Arella.(Paine, Matthew) (Entered: 03/19/2013)

01/30/2013 6 SUMMONS Returned Executed Ian Morrice served on 1/23/2012, answer due 2/13/2012. (Huntington, Franklin) (Entered: 01/30/2013)

01/30/2013 5 SUMMONS Returned Executed Maximilien Arella served on 1/21/2013, answer due 2/11/2013. (Huntington, Franklin) (Entered: 01/30/2013)


United States District Court

District of Massachusetts (Boston)

Securities and Exchange Commission v. Spencer Pharmaceutical Inc et al
Assigned to: Judge William G. Young

Cause: 12:22 Securities Fraud
Date Filed: 12/17/2012
Jury Demand: Plaintiff
Nature of Suit: 850 Securities/Commodities
Jurisdiction: U.S. Government Plaintiff

Plaintiff
Securities and Exchange Commission
represented by Franklin C. Huntington , IV
Securities and Exchange Commission
33 Arch Street
23rd Floor
Boston, MA 02110
617-573-8960
Fax: [phone]
Email: [e-mail]
ATTORNEY TO BE NOTICED


V.
Defendant
Spencer Pharmaceutical Inc

Defendant
Jean-Francois Amyot

Defendant
Maximilien Arella

Defendant
Ian Morrice

Defendant
IAB Media Inc.

Defendant
Hilbroy Advisory Inc.

https://ecf.mad.uscourts.gov/cgi-bin/iquery.pl

[Zorch305]

Thanks for posting that

[sunspotter]

SPPH SEC Litigation:

http://www.sec.gov/litigation/litreleases/2012/lr22574.htm

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 22574 / December 17, 2012

Securities and Exchange Commission v. Spencer Pharmaceutical Inc., Jean-François Amyot, Maximilien Arella, Ian Morrice, IAB Media Inc., and Hilbroy Advisory Inc., Civil Action No. 1:12-cv-12334 (D. Mass.)

The Securities and Exchange Commission filed an enforcement action on December 17, 2012, in federal court in Boston charging Spencer Pharmaceutical Inc., its officers, and several other parties for their roles in a “pump-and-dump” scheme involving Spencer’s stock. The Commission’s complaint alleges that Jean-François Amyot, a Canadian resident who controlled Spencer, orchestrated the scheme and worked with Maximilien Arella and Ian Morrice, Spencer’s officers and directors, as well as IAB Media Inc. and Hilbroy Advisory Inc., two other companies controlled by Amyot, to create and disseminate false press releases, including press releases about a fictitious buyout offer for Spencer, and to otherwise promote Spencer’s stock. The Commission alleges that the promotional campaign pumped up the price of Spencer’s stock, and Amyot benefited by dumping his own Spencer stock at artificially inflated prices.

The Commission’s complaint, filed in the U.S. District Court for the District of Massachusetts, alleges that beginning in November 2010, Spencer, a purported pharmaceutical company with addresses in Boston, Massachusetts, and Canada, disseminated false and misleading press releases claiming that it had received an unsolicited buyout offer from a Mideast company for $245 million when, in fact, the purported buyout offer was not real. The complaint further alleges that Arella and Morrice worked with Amyot to create and disseminate the fraudulent press releases. According to the complaint, while Spencer was issuing the press releases, the defendants were conducting a promotional campaign using Internet websites and newsletters to tout Spencer’s stock and the bogus buyout offer, and the false press releases and promotional campaign were successful in pumping up the price of Spencer’s stock. For example, after Spencer publically announced that the Mideast company proposed to pay $245 million for Spencer, the price of Spencer stock more than doubled in two days – opening at $0.25 per share on November 10, 2010 and closing at $0.60 per share on November 12 – and the daily trading volume for Spencer’s stock reached almost six million shares on November 11, compared to a daily average trading volume of less than 50,000 shares during the previous three months. During the time the buyout offer was being promoted, Amyot sold approximately 36 million Spencer shares for gross proceeds of approximately $5.8 million. Each of the defendants are charged by the Commission with violating various antifraud provisions of the federal securities laws. The complaint further charges Spencer, Amyot, and Arella with violating securities registration provisions of the securities laws. According to the complaint, Amyot and Arella were involved in a series of transfers involving 12 million Spencer shares that were done to evade the securities registration requirements and move the shares into an account controlled by Amyot.

The Commission also suspended trading in Spencer securities on December 17, 2012, 34-68447. Securities of Spencer were quoted on OTC Link operated by OTC Markets Group Inc.

The Commission alleges that Spencer, Amyot, Arella, and Morrice violated Section 17(a) of the Securities Act of 1933 (Securities Act) and Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder; that IAB Media and Hilbroy violated Sections 17(a)(1) and (3) of the Securities Act and Section 10(b) of the Exchange Act and Rules 10b-5(a) and (c); and that Arella, Morrice, IAB Media, and Hilbroy aided and abetted the violations by Spencer of Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5. The Commission also alleges that Amyot is liable for Spencer’s violations of Section 10(b) and Rule 10b-5 as the company’s control person and that Spencer, Amyot, and Arella violated Sections 5(a) and 5(c) of the Securities Act. The Commission is seeking permanent injunctions, disgorgement plus prejudgment interest, and civil penalties against Spencer, Amyot, Arella, Morrice, IAB Media, and Hilbroy. It also seeks an order prohibiting Amyot, Arella, and Morrice from serving as an officer or director of a public company and from participating in the offering of a penny stock.

The Commission acknowledges the assistance of the Quebec Autorité des Marchés Financiers in this matter.

The 41 page complaint:

http://www.sec.gov/litigation/complaints/2012/comp22574.pdf

[sunspotter]

With a TOTH to scion:

Pacer update 28 Dec 12 SEC v. Spencer Pharmaceutical Inc et al CIVIL DOCKET FOR CASE #: 1:12-cv-12334-WGY

https://ecf.mad.uscourts.gov/cgi-bin/iquery.pl


Date Filed # Docket Text

12/28/2012 4 SUMMONS Returned Executed Spencer Pharmaceutical Inc served on 12/28/2012, answer due 1/18/2013. (Huntington, Franklin) (Entered: 12/28/2012)


United States District Court

District of Massachusetts (Boston)

Securities and Exchange Commission v. Spencer Pharmaceutical Inc et al
Assigned to: Judge William G. Young

Cause: 12:22 Securities Fraud
Date Filed: 12/17/2012
Jury Demand: Plaintiff
Nature of Suit: 850 Securities/Commodities
Jurisdiction: U.S. Government Plaintiff

Plaintiff
Securities and Exchange Commission
represented by Franklin C. Huntington , IV
Securities and Exchange Commission
33 Arch Street
23rd Floor
Boston, MA 02110
617-573-8960
Fax: [phone]
Email: [e-mail]
ATTORNEY TO BE NOTICED


V.
Defendant
Spencer Pharmaceutical Inc

Defendant
Jean-Francois Amyot

Defendant
Maximilien Arella

Defendant
Ian Morrice

Defendant
IAB Media Inc.

Defendant
Hilbroy Advisory Inc.

https://ecf.mad.uscourts.gov/cgi-bin/iquery.pl

[sidedraft]

First day on greys was rather quiet.

[sunspotter]

Thanks to you and sidedraft.

[Renee]

Howdy, Sunspotter. The trades were illegitimate because SPPH is still under SEC Suspension.

As Sidedraft noted the trade(s) was / were cancelled.

A Broker and / or a MM boo-boo'ed.

[sidedraft]

I noticed this, two hours after the close:



My Level II still has the big red boxed "H"...HALTED.

If the other two transactions get cancelled, then today's action will match the SEC order.

[sunspotter]

Renee, I don't understand today's trading on SPPH.

Obviously I know that when SPPH is eligible to trade the chances are that it will go to 0.0001 for ever (or until revoked, more accurately) but I thought it was suspended from trading until 27 December?

What am I missing?

[sunspotter]

"Tue, Dec 18, 2012 12:00 - Spencer Pharmaceutical Inc. (SPPH: Grey Market) - Venue Change - The symbol, SPPH, no longer trades on OTC Link. As of Tue, Dec 18, 2012, SPPH trades on Grey Market. You may find a complete list of venue changes at otcmarkets.com."

http://ih.advfn.com/p.php?pid=nmona&article=55519421&symbol=SPPH

This move to the Grey Markets - once SPPH returns from its trading suspension in eight days' time - means a market will no longer be made in SPPH shares, rendering them illiquid and almost certainly causing them to drop even further in value.

The good news- and probably the only good news for anyone unfortunate enough to own SPPH stock - is that this might enable to take your losses against your tax liabilities for 2012, although you need to take proper professional advice to confirm whether this is the case or not.

[Renee]

SPPH SEC Litigation:

http://www.sec.gov/litigation/litreleases/2012/lr22574.htm

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 22574 / December 17, 2012

Securities and Exchange Commission v. Spencer Pharmaceutical Inc., Jean-François Amyot, Maximilien Arella, Ian Morrice, IAB Media Inc., and Hilbroy Advisory Inc., Civil Action No. 1:12-cv-12334 (D. Mass.)

The Securities and Exchange Commission filed an enforcement action on December 17, 2012, in federal court in Boston charging Spencer Pharmaceutical Inc., its officers, and several other parties for their roles in a “pump-and-dump” scheme involving Spencer’s stock. The Commission’s complaint alleges that Jean-François Amyot, a Canadian resident who controlled Spencer, orchestrated the scheme and worked with Maximilien Arella and Ian Morrice, Spencer’s officers and directors, as well as IAB Media Inc. and Hilbroy Advisory Inc., two other companies controlled by Amyot, to create and disseminate false press releases, including press releases about a fictitious buyout offer for Spencer, and to otherwise promote Spencer’s stock. The Commission alleges that the promotional campaign pumped up the price of Spencer’s stock, and Amyot benefited by dumping his own Spencer stock at artificially inflated prices.

The Commission’s complaint, filed in the U.S. District Court for the District of Massachusetts, alleges that beginning in November 2010, Spencer, a purported pharmaceutical company with addresses in Boston, Massachusetts, and Canada, disseminated false and misleading press releases claiming that it had received an unsolicited buyout offer from a Mideast company for $245 million when, in fact, the purported buyout offer was not real. The complaint further alleges that Arella and Morrice worked with Amyot to create and disseminate the fraudulent press releases. According to the complaint, while Spencer was issuing the press releases, the defendants were conducting a promotional campaign using Internet websites and newsletters to tout Spencer’s stock and the bogus buyout offer, and the false press releases and promotional campaign were successful in pumping up the price of Spencer’s stock. For example, after Spencer publically announced that the Mideast company proposed to pay $245 million for Spencer, the price of Spencer stock more than doubled in two days – opening at $0.25 per share on November 10, 2010 and closing at $0.60 per share on November 12 – and the daily trading volume for Spencer’s stock reached almost six million shares on November 11, compared to a daily average trading volume of less than 50,000 shares during the previous three months. During the time the buyout offer was being promoted, Amyot sold approximately 36 million Spencer shares for gross proceeds of approximately $5.8 million. Each of the defendants are charged by the Commission with violating various antifraud provisions of the federal securities laws. The complaint further charges Spencer, Amyot, and Arella with violating securities registration provisions of the securities laws. According to the complaint, Amyot and Arella were involved in a series of transfers involving 12 million Spencer shares that were done to evade the securities registration requirements and move the shares into an account controlled by Amyot.

The Commission also suspended trading in Spencer securities on December 17, 2012, 34-68447. Securities of Spencer were quoted on OTC Link operated by OTC Markets Group Inc.

The Commission alleges that Spencer, Amyot, Arella, and Morrice violated Section 17(a) of the Securities Act of 1933 (Securities Act) and Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder; that IAB Media and Hilbroy violated Sections 17(a)(1) and (3) of the Securities Act and Section 10(b) of the Exchange Act and Rules 10b-5(a) and (c); and that Arella, Morrice, IAB Media, and Hilbroy aided and abetted the violations by Spencer of Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5. The Commission also alleges that Amyot is liable for Spencer’s violations of Section 10(b) and Rule 10b-5 as the company’s control person and that Spencer, Amyot, and Arella violated Sections 5(a) and 5(c) of the Securities Act. The Commission is seeking permanent injunctions, disgorgement plus prejudgment interest, and civil penalties against Spencer, Amyot, Arella, Morrice, IAB Media, and Hilbroy. It also seeks an order prohibiting Amyot, Arella, and Morrice from serving as an officer or director of a public company and from participating in the offering of a penny stock.

The Commission acknowledges the assistance of the Quebec Autorité des Marchés Financiers in this matter.

The 41 page complaint:

http://www.sec.gov/litigation/complaints/2012/comp22574.pdf

[Penny Roger$]

I believe everyone on ihub. Thank you.

You can pretty much wipe your donkey with this lottery ticket now. Congrats to Sunspotter for pegging this as a scam two years ago.

[Brad S]

You can pretty much wipe your ass with this lottery ticket now. Congrats to Sunspotter for pegging this as a scam two years ago.

[janice shell]

Yes. They could have suspended and THEN investigated. Here's the complaint:

http://www.sec.gov/litigation/complaints/2012/comp22574.pdf

[Renee]

Every SEC Suspension is too late. With over 1,600 suspensions since January 1st, 2010 surely there are compelling reasons to change the non-SEC reporting Pinks to a comparative level of accountability.

Mandatory filing of quarterly Fins or Caveat Emptor for one delinquent quarter and sent to the Grey Sheets for 2 delinquent quarters.

Force Legal Opinion Lawyers to vet all unaudited Fins.

A Yearly audit should be mandatory which would expose any false info in quarterly Fins. and would expose bogus Legal Opinion Letters.

Forbid gagged transfer Agents.

As the song goes, 'these are a few of my favorite things'.

[sunspotter]

The full text, which proves that the concerns that some of us had about SPPH's fictional PRs were entirely valid:

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 68447 / December 17, 2012
The Securities and Exchange Commission (“Commission”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange
Act”), of trading in the securities of Spencer Pharmaceutical Inc. (“Spencer”), commencing at 9:30 a.m. EST on Monday, December 17, 2012, through 11:59 p.m. EST on Monday, December 31, 2012.
The Commission temporarily suspended trading in the securities of Spencer because of questions regarding the accuracy and adequacy of publicly disseminated information concerning, among other things, the company’s current financial condition and statements made by Spencer in press
releases concerning, among other things, an unsolicited buyout offer of Spencer by a foreign company. Spencer’s ticker symbol is SPPH.
The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available
information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer
has questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of
Interpretation and Guidance, at [phone]. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to Spencer’s
securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.
The Commission acknowledges the assistance of the Quebec Autorité des Marchés Financiers in connection with this matter.
If any broker, dealer, or other person has any information which may relate to this matter, John T. Dugan of the Boston Regional Office of the Securities and Exchange Commission should be
telephoned at [phone]."

[sunspotter]

"SPPH: SEC Suspension"

Only two years too late. LOL.

[sidedraft]

The Commission acknowledges the assistance of the Quebec Autorité des Marchés Financiers in
connection with this matter.
http://www.sec.gov/litigation/suspensions/2012/34-68447.pdf

[Renee]

SPPH: SEC Suspension:

http://www.sec.gov/litigation/suspensions/2012/34-68447.pdf

ORDER:

http://www.sec.gov/litigation/suspensions/2012/34-68447-o.pdf

[Penny Roger$]

Just a lottery ticket imo. To say no pumps never shoot up like a rocket would be delusional.

"SPPH chart on watch! Jackie's scan for 12-10-2012"

Surely a typo?

SPPH is clearly established as pump and dump scam.

[sunspotter]

"SPPH chart on watch! Jackie's scan for 12-10-2012"

Surely a typo?

SPPH is clearly established as pump and dump scam.

[Penny Roger$]

SPPH chart on watch! Jackie's scan for 12-10-2012



Here is the SPPH chart! One of the many over sold stocks out there. This scan is one of many criteria I am fiddling with. Click the next or previous links at the top of the page to see more or search my name for key words here.
http://investorshub.advfn.com/boards/profilea.aspx?user=251916

Here are several SPPH links as well..

OTC Markets Company Info ~ http://www.otcmarkets.com/stock/SPPH/company-info
Google Finance Summary ~ http://www.google.com/finance?q=SPPH
Google Finance News ~ http://www.google.com/finance/company_news?q=SPPH
Y! Profile ~ http://finance.yahoo.com/q/pr?s=SPPH+Profile
Y! Key Stat's ~ http://finance.yahoo.com/q/ks?s=SPPH+Key+Statistics
FINVIZ ~ http://finviz.com/quote.ashx?t=SPPH&ty=c&ta=0&p=d
Investorshub Trades ~ http://ih.advfn.com/p.php?pid=trades&symbol=SPPH
Investorshub Board Search ~ http://investorshub.advfn.com/boards/getboards.aspx?searchstr=SPPH
Investorshub PostStream ~ http://investorshub.advfn.com/boards/poststream.aspx?ticker=SPPH
Investorshub Messages ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=SPPH
Investorshub Videos ~ http://ih.advfn.com/p.php?pid=ihvse&ihvqu=SPPH
Investorshub News ~ http://ih.advfn.com/p.php?pid=news&btn=s_ok&ctl00%24sb3%24tbq1=Get+Quote&as_values_IH=&ctl00%24sb3%24stb1=Search+iHub&symbol=SPPH&s_ok=OK&from_month=3&from_day=15&from_year=2012&order=desc&selsrc%5B%5D=prnca&selsrc%5B%5D=prnus&selsrc%5B%5D=zacks&selsrc%5B%5D=money2&selsrc%5B%5D=djn&selsrc%5B%5D=bw&selsrc%5B%5D=globe&selsrc%5B%5D=edgar&selsrc%5B%5D=mwus&force=1&last_ts=1331855999&p_n=1&p_count=&p_ts=1331794260







To ask me or pitch in thoughts about SPPH click a message here and reply ---> http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2012&SearchStr=SPPH

I always follow back! MACDscan ~ NOTE! This week's scan contains a few symbols not in the Stockcharts.com database. $SPPH

[sunspotter]

SPPH back in the trips, I see.

I wonder when SEC will press charges against Maximilien Arella, Jean François Amyot, Ian Morrice and their fellow fraudsters?

[noode12]

for what this is only a shell now can you see that

[PieceofPie]

I see that the # of outstanding shares inched up again, so there are more than enough out there to BUY. Takes a lot not to ROFL at a buy recommendation. Hail buyers back yet?

[didgi69]

time to buy more spph shares ...

[didgi69]

so spph has the tech for big things wow like this one

[didgi69]

go spph

[sunspotter]

SPPH back in the trips this morning.

Perhaps it's Amyot and Arella selling, trying to get some cab money?

Perhaps for the visits to AMF HQ they've been making recently?

Or saving up for the extradition proceedings when the pending SEC case breaks?