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Securities and Exchange Commission v. Femenia

United States District Court, W.D. North Carolina, Charlotte Division

August 29, 2019

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
JOHN W. FEMENIA, SHAWN C. HEGEDUS, DANIELLE C. LAURENTI, CORAM REAL ESTATE HOLDING, INC., GOLDSTAR P.S. INC., ROGER A. WILLIAMS, KENNETH M. RABY, FRANK M. BURGESS, JAMES A. HAYES, MATTHEW J. MUSANTE, ANTHONY C. MUSANTE and AARON M. WENS, Defendants, and KRISTINE LACK and CHRISTINE E. MUSANTE, Relief Defendants.

          JUDGMENT AS TO DEFENDANTS SHAWN C. HEGEDUS, DANIELLE C. LAURENTI, CORAM REAL ESTATE HOLDING, INC. AND GOLDSTAR P.S. INC.

          Graham C. Mullen, United States District Judge.

         The Securities and Exchange Commission (“Commission”) having filed a complaint and made a Motion for Default Judgment against Defendants Shawn C.

         Hegedus (“Hegedus”), Danielle C. Laurenti (“Laurenti”), Coram Real Estate Holding, Inc. (“Coram”), and Goldstar P.S. Inc. (“Goldstar”) (collectively the “Hegedus Defendants”); the Clerk having entered default against the Hegedus Defendants on May 8, 2019 [Dkt. 384], upon the submissions and filings with the Court and for good cause shown:

         I.

         IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the Hegedus Defendants are permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of interstate commerce, or of the mails, or of any facility of any national securities exchange, in connection with the purchase or sale of any security:

(a) to employ any device, scheme, or artifice to defraud;
(b) to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or
(c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.

         IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Judgment by personal service or otherwise: (a) each of the Hegedus Defendants' officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or participation with any of the Hegedus Defendants or with anyone described in (a).

         II.

         IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Hegedus Defendant are jointly and severally liable for disgorgement of $2, 420, 000, representing profits gained as a result of the conduct alleged in the complaint, together with prejudgment interest thereon in the amount of $636, 976.39. The Court declines to order a civil penalty.

         The Hegedus Defendants shall satisfy the foregoing obligations by paying the amounts to the Securities and Exchange Commission within 30 days after entry of this Judgment. The Hegedus Defendants may transmit payment electronically to the Commission, which will provide detailed ACH transfer/Fedwire instructions upon request. Payment may also be made directly from a bank account via Pay.gov through the SEC website at http://www.sec.gov/about/offices/ofm.htm. The Hegedus Defendants may also pay by certified check, bank cashier's check, or United States postal money order payable to the Securities and Exchange Commission, which shall be delivered or mailed to

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