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Securities and Exchange Commission v. Robert C. Butler

June 6, 2011

SECURITIES AND EXCHANGE COMMISSION, PLAINTIFF,
v.
ROBERT C. BUTLER, (1) FREEZING ASSETS, (2) REQUIRING ACCOUNTINGS; (3) PROHIBITING THE DESTRUCTION OF DOCUMENTS, AND (4) GRANTING EXPEDITED DISCOVERY DEFENDANT.



The opinion of the court was delivered by: The Honorable Margaret M. Morrow United States District Judge

[PROPOSED] PRELIMINARY INJUNCTION AND ORDERS:

This matter came to be heard upon Plaintiff Securities and Exchange Commission's ("Commission") Ex Parte Application For A Temporary Restraining Order and Orders: (1) Freezing Assets; (2) Requiring Accountings; (3) Prohibiting The Destruction Of Documents; And (4) Granting Expedited Discovery; And Order To Show Cause Re Preliminary Injunction (the "Application"). On May 4, 2011, the Court granted the Commission's Application and issued a Temporary Restraining Order and Orders: (1) Freezing Assets; (2) Requiring Accountings; (3) Prohibiting The Destruction Of Documents; And (4) Granting Expedited Discovery; And Order To Show Cause Re Preliminary Injunction, which ordered Butler to show cause, if there be any, why a preliminary injunction should not be granted in accordance with the complaint filed by the Commission. On May 11, 2011, the Court extended the Temporary Restraining Order until June 6, 2011.

The Court, having considered the Commission's Complaint, the Application, the supporting Memorandum of Points and Authorities, the Notice of Non-Receipt of Opposition to Order to Show Cause Re Preliminary Injunction, the Declarations and Exhibits, and all other evidence and argument presented, finds that:

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

B. Good cause exists to believe that Defendant Robert C. Butler ("Defendant" or "Butler") has engaged in, is engaging in, and is about to engage in transactions, acts, practices and courses of business that constitute violations of Section 17(a) of the Securities Act of 1933 ("Securities Act"), 15 U.S.C. § 77q(a), Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act"), 15 U.S.C. § 78j(b), and Rule 10b-5 thereunder, 17 C.F.R. § 240.10b-5, and Sections 206(1), (2) and (4) of the Investment Advisers Act of 1940 ("Advisers Act"), 15 U.S.C. §§ 80b-6(1), (2) and (4), and Rule 206(4)-8 thereunder, 17 C.F.R. § 275.206(4)-8.

C. The Commission has demonstrated a probability of success on the merits and the possibility of dissipation of assets.

D. Good cause exists to believe that defendant Butler will continue to engage in such violations to the immediate and irreparable loss and damage to investors and to the general public unless he is restrained and enjoined.

I.

IT IS HEREBY ORDERED that the Commission's Application for a Preliminary Injunction and Orders: (1) Freezing Assets, (2) Requiring Accountings, (3) Prohibiting The Destruction Of Documents, and (4) Granting Expedited Discovery is GRANTED.

II.

IT IS FURTHER ORDERED that defendant Butler, and his agents, servants, employees, attorneys, 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 the 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 defendant Butler, and his agents, servants, employees, attorneys, 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 ...


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