Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

Securities and Exchange Commission v. Ben-Wal Leasing Co.

September 2, 2009

SECURITIES AND EXCHANGE COMMISSION, PLAINTIFF,
v.
BEN-WAL LEASING COMPANY; BEN-WAL MANAGEMENT, INC.; AND JERRY E. BENSON, DEFENDANTS, AND CTR WEB PRINTING, INC.; AND SCOTT W. BENSON, RELIEF DEFENDANTS.



The opinion of the court was delivered by: Otis D. Wright II United States District Judge

ORDER OF PRELIMINARY INJUNCTION AND ORDERS: (1) CONTINUING ASSET FREEZE, (2) PROHIBITING THE DESTRUCTION OF DOCUMENTS, (3) REQUIRING ACCOUNTINGS, (4) GRANTING EXPEDITED DISCOVERY, AND (5) APPOINTING A PERMANENT RECEIVER ; (6) VACATING HEARING THEREON

The Court, having considered the Securities and Exchange Commission's ("Commission") Complaint, its Ex Parte Application for Temporary Restraining Order and Orders: (1) Freezing Assets, (2) Requiring Accountings, (3) Prohibiting the Destruction of Documents, (4) Granting Expedited Discovery, and (5) Appointing a Temporary Receiver; and Order to Show Cause re Preliminary Injunction and Appointment of a Receiver; the Commission's Memorandum of Points and Authorities in support thereof, the declarations filed in support thereof, all other evidence and argument presented regarding the Application, and the Stipulation to the [Proposed] Order of Preliminary Injunction and Orders:

(1) Continuing Asset Freeze, (2) Prohibiting the Destruction of Documents, (3) Requiring Accountings, (4) Granting Expedited Discovery, and (5) Appointing a Permanent Receiver, finds that:

A. This Court has jurisdiction over the parties to, and the subject matter of, this action.

B. On August 26, 2009, the Commission filed an Ex Parte Application For A Temporary Restraining Order And Orders: (1) Freezing Assets; (2) Requiring Accountings; (3) Prohibiting the Destruction of Documents; (4) Granting Expedited Discovery, and (5) Appointing A Temporary Receiver; And Order To Show Cause Re Preliminary Injunction And Appointment Of A Permanent Receiver (the "Application");

C. On August 26, 2009, the Court granted the Commission's Application in its entirety (the "August 26, 2009 Order") and ordered Defendants to show cause, if there be any, why this Court should not grant a preliminary injunction and other preliminary relief and why this Court should not appoint a permanent receiver pursuant to Rule 65 of the Federal Rules of Civil Procedure, until a final adjudication on the merits may be had (the "OSC re Preliminary Injunction");

D. The Court set a hearing on the OSC re Preliminary Injunction and Appointment of Permanent Receiver for September 4, 2009 at 1:30 p.m.;

E. Defendants and Relief Defendants have received notice of the Commission's request for a preliminary injunction as provided by F.R.C.P. 65(a)(1) and have been fully advised and informed of their right to judicial determination of the relief sought by the Commission at the hearing, currently scheduled for September 4, 2009, at 1:30 p.m. on the Court's Order to Show Cause re Preliminary Injunction and Appointment of Permanent Receiver;

F. Defendants and Relief Defendants waive the entry of findings of fact and conclusions of law as provided by Rule 52 of the Federal Rules of Civil Procedure;

G. Defendants and Relief Defendants do not oppose the Commission's request for a preliminary injunction and without, admitting or denying the allegations in the Commission's Complaint, consent to the following order: WHEREFORE, IT IS HEREBY ORDERED, for good cause shown, as follows:

I.

IT IS ORDERED that the Commission's request for a preliminary injunction and orders: (1) Continuing Asset Freeze, (2) Prohibiting the Destruction of Documents, (3) Requiring Accountings, and (4) Granting Expedited Discovery, and (5) Appointing a Permanent Receiver is GRANTED.

II.

IT IS FURTHER ORDERED that Defendants, and their officers, agents, servants, employees, attorneys, subsidiaries and affiliates, and those persons in active concert or participation with any of them, who receive actual notice of this Order, by personal service or otherwise, and each of them, be and hereby are preliminarily restrained and enjoined from, directly or indirectly, in the offer or sale of any securities, by the use of any means or instruments of transportation or communication in interstate commerce or by use of the mails:

A. employing any device, scheme or artifice to defraud;

B. obtaining money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or

C. engaging in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser in violation of Section 17(a) of the Securities Act, 15 U.S.C. § 77q(a).

III.

IT IS FURTHER ORDERED that Ben-Wal Leasing and Benson, and their officers, agents, servants, employees, attorneys, subsidiaries and affiliates, and those persons in active concert or participation with any of them who receive actual notice of this Order, by personal service or otherwise, and each of them, be and hereby are preliminarily restrained and enjoined from, directly or indirectly, in connection with the purchase or sale of any security, by the use of any means or instrumentality of interstate commerce, or of the mails, or of any facility of any national securities exchange:

A. employing any device, scheme, or artifice to defraud;

B. making any untrue statement of a material fact or omitting to state a material fact necessary in order to make the statements made, in the light of the circumstances ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.