World Surveillance Group Inc (fka WSGI)

[justfrank]

Maybe this will help you understand.

What the SEC sought

The SEC alleges that Huff violated Sections 5(a) and 5(c) of the Securities Act of 1933 and seeks as relief a permanent injunction and a civil penalty.

What they got

Without admitting or denying the charges against him, Huff consented to final judgment permanently enjoining him from future violations of Sections 5(a) and 5(c) of the Securities Act and ordering him to pay a $30,000 civil penalty.

What the SEC sought

The SEC alleges that Jimenez and Lynch violated Section 17(a) of the Securities Act, violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder and aided and abetted violations of those provisions by GlobeTel, violated Rules 13a-14 and 13b2-1 of the Exchange Act and aided and abetted violations of Sections 13(a) and 13(b)(2)(A) & (B) of the Exchange Act and Rules 12b-20, 13a-1 and 13a-13 thereunder by GlobeTel, and seeks as relief permanent injunctions, civil penalties, disgorgement with prejudgment interest and officer and director bars.

What they got

Without admitting or denying the charges against him, Lynch consented to final judgment permanently enjoining him from future violations of Section 17(a) of the Securities Act and Sections 10(b), 13(a) and 13(b)(2)(A) & (B) of the Exchange Act and Rules 10b-5, 12b-20, 13a-1, 13a-13, 13a-14 and 13b2-1 thereunder, imposing a five year officer and director bar and ordering him to pay a civil penalty in an amount to be determined by the court.