Sure is worth repeating!
PLAINTIFF’s MOTION FOR ACCEPTANCE OF CONSENT
AND ENTRY OF CONSENTED-TO FINAL JUDGMENT AGAINST
ADVANCED CELL TECHNOLOGY, INC.
Plaintiff Securities and Exchange Commission (“SEC”) hereby files the executed Consent of Defendant Advanced Cell Technology, Inc. (“Advanced Cell”) to entry of Permanent Injunction and Other Relief. The Consent and proposed Final Judgment are attached. The SEC respectfully asks the Court to accept the Consent and to enter the proposed Final Judgment, which would resolve all of the SEC’s claims against Advanced Cell.
Dated: December 23, 2013
Respectfully submitted,
/s Drew M. Dorman, Esq., Securities and Exchange Commission
Without admitting or denying the allegations of the complaint (except as to personal and subject matter jurisdiction, which Defendant admits), Defendant hereby consents to the entry of the final Judgment in the form attached hereto (the "Final Judgment") and incorporated by reference herein, which, among other things:
(a) permanently restrains and enjoins Defendant from violations of Sections 5(a) and 5(c) of the Securities Act of 1933 [15 U.S.C. §§ 77e(a) and 77e(c)] and Section 13(a) of the Securities Exchange Act of 1934 [15 U.S.C. § 78m(a)] and Rule 13a-ll thereunder [17 C.F.R. § 240.l3a-ll]; and (b) orders Defendant to pay disgorgement in the amount of $3,500,000, plus prejudgment interest thereon in the amount of $586,619, for a total $4,086,619
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable for disgorgement of $3,500,000, representing profits gained as a result of the conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $586,619, for a total of $4,086,619.
Defendant shall satisfy this obligation by paying to the Commission $4,086,619 in six (6) equal installments of $681,104.16, plus post-judgment interest, in accordance with the following schedule:
(1) A payment of $681,104.16 shall be made within fourteen (14) days after the entry of this Final Judgment; and
(2)Subsequently, a total of five installment payments of $681,104.16 each shall be made on the fifteenth (15th) day of each quarter following the entry of this Final Judgment, with the final installment and all remaining balances due on the fifteenth (15th) day of the fifth quarter following entry of this Final Judgment.
