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Securities and Exchange Commission v. Eagle Development Enterprises

December 22, 2009

SECURITIES AND EXCHANGE COMMISSION, PLAINTIFF,
v.
EAGLE DEVELOPMENT ENTERPRISES, INC., A NEVADA CORPORATION; EAGLE STORAGE & DEVELOPMENT, LLC, AN ARIZONA LIMITED LIABILITY COMPANY; EAGLE AVIATION SALES & LEASING, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY; MICHAEL J. BOWEN, DEFENDANTS, EAGLE ASSETS & MANAGEMENT, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY; EAGLE HOUSING & DEVELOPMENT AZ, LLC, AN ARIZONA LIMITED LIABILITY COMPANY; EAGLE HOUSING & DEVELOPMENT, INC., A CALIFORNIA CORPORATION; EAGLE HELICOPTERS & AVIATION, INC., A CALIFORNIA CORPORATION, RELIEF DEFENDANTS.



The opinion of the court was delivered by: Honorable James V. Selna United States District Judge

ORDER GRANTING PRELIMINARY INJUNCTION AS TO DEFENDANT EAGLE STORAGE & DEVELOPMENT, LLC AND ORDERS:(1) FREEZING ASSETS; (2) REQUIRING ACCOUNTINGS; AND (3) PROHIBITING THE DESTRUCTION OF DOCUMENTS

The Court, having considered the Commission's Complaint; the 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 Order To Show Cause Re Preliminary Injunction (the "Application"); the supporting Memorandum of Points and Authorities; Declarations and Exhibits; and all other evidence and argument presented regarding the Application; and finding that this Court has jurisdiction over the parties to, and the subject matter of, this action, that the Commission has demonstrated a probability of success on the merits and a possibility of dissipation of assets in this case, and that defendant Eagle Storage & Development, LLC ("Eagle Storage") consented to this order, without admitting or denying the allegations in the Commission's Complaint,

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) freezing assets; (2) requiring accountings; and (3) prohibiting the destruction of documents is hereby GRANTED.

II.

IT IS FURTHER ORDERED that defendant Eagle Storage, and its 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, making use of any means or instruments of transportation or communication in interstate commerce or of the mails, to sell, to offer to sell, or to offer to buy any security, or carrying or causing securities to be carried through the mails or in interstate commerce, by any means or instruments of transportation, for the purpose of sale or delivery after sale, in violation of Sections 5(a) and 5(c) of the Securities Act, 15 U.S.C. §§ 77(e)(a) and 77(e)(c).

III.

IT IS FURTHER ORDERED that defendant Eagle Storage and its 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).

IV.

IT IS FURTHER ORDERED that defendant Eagle Storage and its 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 ...


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