Some dd on the court case, dated March 27th 2017.
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Posted On: 04/28/2017 5:49:50 AM
Some dd on the court case, dated March 27th 2017.
https://casetext.com/case/sec-exch-commn-v-ed...socs-llc-2
The conclusion is important:
"Defendants are hereby ordered to provide the SEC with a calculation of their transaction expenses for the purpose of calculating the disgorgement figure within seven days of the date of this Opinion & Order. The SEC is to submit a revised prejudgment interest calculation based on the revised disgorgement amount, and a proposed final judgment within seven days thereafter."
This would put the final SEC judgement against Edward Bronson/Fairhills Capital mid April 2017, a couple weeks ago. This court case is close to coming to an end. What happened was that Edward Bronson/Fairhills Capital illegally resold 1.1 billion shares of SGCP and gained $ 1.7 million gross profit and SGCP received a dtcc chill afterwards pending the court case. The question remains how much the disgorgement figure will be in the final judgement as Edward Bronson/Fairhills Capital filed for bankruptcy on November 1st 2016 which the SEC opposed with a motion on November 3rd 2016. It seems a lot of the counsels of Edward Bronson/Fairhills Capital withdrew over the years. As it stands now, Edward Bronson/Fairhills Capital should have appeared within 30 days as of January 11th 2017 with a new counsel, but he hasn't. So it looks like this court case will be over soon. The total initial disgorgement figure for all illegally resold shares for the different stocks was around $ 10 million.
The question also remains whether SGCP will get any money out of the final disgorgement. Anyhow, with the latest news about SGCP being cleared from the dtcc chill and the fact that the court case will be over in favor of the SEC charge and also in favor of SGCP, it is time for SGCP to wake up.
https://casetext.com/case/sec-exch-commn-v-ed...socs-llc-2
The conclusion is important:
"Defendants are hereby ordered to provide the SEC with a calculation of their transaction expenses for the purpose of calculating the disgorgement figure within seven days of the date of this Opinion & Order. The SEC is to submit a revised prejudgment interest calculation based on the revised disgorgement amount, and a proposed final judgment within seven days thereafter."
This would put the final SEC judgement against Edward Bronson/Fairhills Capital mid April 2017, a couple weeks ago. This court case is close to coming to an end. What happened was that Edward Bronson/Fairhills Capital illegally resold 1.1 billion shares of SGCP and gained $ 1.7 million gross profit and SGCP received a dtcc chill afterwards pending the court case. The question remains how much the disgorgement figure will be in the final judgement as Edward Bronson/Fairhills Capital filed for bankruptcy on November 1st 2016 which the SEC opposed with a motion on November 3rd 2016. It seems a lot of the counsels of Edward Bronson/Fairhills Capital withdrew over the years. As it stands now, Edward Bronson/Fairhills Capital should have appeared within 30 days as of January 11th 2017 with a new counsel, but he hasn't. So it looks like this court case will be over soon. The total initial disgorgement figure for all illegally resold shares for the different stocks was around $ 10 million.
The question also remains whether SGCP will get any money out of the final disgorgement. Anyhow, with the latest news about SGCP being cleared from the dtcc chill and the fact that the court case will be over in favor of the SEC charge and also in favor of SGCP, it is time for SGCP to wake up.
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