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SECURITIES AND EXCHANGE COMMISSION v. MUTH

United States District Court, S.D. California


November 4, 2005.

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
STEVEN E. MUTH and DOOR CHAIR, LTD, Defendants.

The opinion of the court was delivered by: WILLIAM HAYES, District Judge

[AMENDED PROPOSED FINAL JUDGMENT OF DISGORGEMENT AND IMPOSING A CIVIL PENALTY AGAINST STEVEN E. MUTH
TO DEFENDANT STEVEN E. MUTH:
Pursuant to the Court's Order Granting Plaintiff Securities And Exchange Commission's Motion For Summary Judgment Of Disgorgement And Imposing A Civil Penalty Against Defendant Steven E. Muth:

I.

  IT IS HEREBY ORDERED, ADJUDGED AND DECREED that Muth is liable for disgorgement of $1,497,343, together with prejudgment interest thereon in the amount of $545,214, totaling $2,042,557, and a third tier civil penalty of $110,000 pursuant to Section 20(d)(3) of the Securities Act, 15 U.S.C. ยง 77t(d)(3). Muth shall satisfy this obligation by paying $2,152,557 within ten days of the date of entry of this Final Judgment in the form of a cashier's check, certified check or postal money order payable to the Treasury of the United States, together with a cover letter that identifies the defendant, the name and case number of this litigation and the court. A copy of the cover letter shall be simultaneously transmitted to counsel for the Commission in this action at the Commission's Pacific Regional Office in Los Angeles, California. By making this payment, Muth relinquishes all legal and equitable right, title, and interest in such funds, and no part of the funds shall be returned to Muth.

  II.

  IT IS FURTHER ORDERED, ADJUDGED AND DECREED that the Commission may propose a plan to distribute funds paid by the Defendant in satisfaction of this Final Judgment subject to the Court's approval. Such a plan may provide that the funds shall be distributed pursuant to the Fair Fund provisions of Section 308(a) of the Sarbanes-Oxley Act of 2002. Regardless of whether any such Fair Fund distribution is made, the amounts ordered to be paid as a civil penalty pursuant to this Final Judgment shall be treated as a penalty paid to the government for all purposes, including all tax purposes.

  III.

  IT IS FURTHER ORDERED, ADJUDGED AND DECREED that this Court shall retain jurisdiction over this action for all purposes, including to implement and enforce the terms of this Final Judgment and all other orders and decrees which have been and may be entered in this case, and to grant such other relief as this Court may deem necessary and just. IV.

  There being no just reason for delay, the Clerk of the Court is directed, pursuant to Fed.R.Civ.P. 54(b), to enter this Final Judgment.

20051104

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