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It was in the post!
The Commission announced that on August 2, 1999, it filed a complaint seeking permanent injunctions against Kanakaris Communications, Inc. ("KCI"), Alexander Frank Kanakaris ("Kanakaris"), David R. Valenti ("Valenti") and Shawn F. Hackman ("Hackman"), alleging violations of Sections 5(a), 5(c) and 17 (a) of the Securities Act of 1933 and Section 10 (b) of the Securities Exchange Act of 1934 and Rule l0b-5 thereunder. The Commission's complaint also seeks disgorgement from Hackman and civil penalties against Kanakaris, Valenti and Hackman. KCI, Kanakaris and Valenti have agreed to settle the action by consenting, without admitting or denying the allegations of the complaint, to be enjoined from future violations of the registration and antifraud provisions of the federal securities laws; Kanakaris and Valenti also have agreed to pay civil money penalties of $25,000 each.
