Court Holds Defendant in Contempt in SEC Action Involving Rhode Island-Based Offering Fraud, April 5, 2012, (Litigation Release No. 22317) In October 2010, the SEC filed a civil injunctive action against David Stern alleging that he misrepresented several key characteristics of his company -- Online Registries, Inc. -- in order to raise investor funds. The SEC also alleged that Stern then misappropriated these funds. The court entered an Order for Other Equitable Relief in March 2011. Last...
SEC Obtains Preliminary Injunction in New York Investment Adviser Case March 28, 2012, (Litigation Release No. 22311) The US District Court for the Eastern District of New York issued a preliminary injunction against Brian Raymond Callahan and his advisory firms Horizon Global Advisors, Ltd. and Horizon Global Advisors, LLC. This preliminary injunction stems from the charges filed by the SEC alleging Callahan "defrauded investors in five offshore funds and used some of their money to buy...
