Can you prove they WERE? And sec OPINION doesn't count. You see there WERE no 'gains'. Everything was plowed back into P2O Development. SO, the only ones that 'gained' is us JBII shareholders.
[Since 2007, only one court has ordered a permanent officer and director bar in a litigated SEC case]
[the challenges the SEC faces in trying to obtain an officer and director bar in litigated cases. Where the case involves a first-time offender, it is difficult for the SEC to make a compelling argument that there is a likelihood of future misconduct that warrants an officer and director bar]
[the court rejected the SEC’s request for an officer and director bar, finding that the foregoing factors were outweighed by the defendant’s lack of financial benefit, his otherwise unblemished career and the likelihood there would be no future recurrence (the court viewed this last factor as the most significant]
[The reluctance of courts in more recent years to impose permanent officer and director bars in litigated cases is a significant trend. Executives involved in an SEC investigation should consider this trend if the SEC demands a permanent officer and director bar as part of a negotiated settlement.]
[Judge Pepe denied the SEC’s requests for an injunction and for a permanent officer and director bar.....the court did not find that his violations approached “the level of egregiousness found in many SEC cases.” According to the court, “It was an isolated incident on a single day involving various deceptions and critical omissions, but all related to a single wrongful course of conduct.”] <~~~sounds familiar?
There have been one dozen law firms for a long time now. My question was, why are some of them coming back a second time? Also, they must not be having much luck or you would think at least ONE would have done something after these many months. But, my question is "Why go through the process twice"? Does that improve their "position"?
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