Securities Exchange Comm. v. Bear, Stearns Co. Inc.

Full title: SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. BEAR, STEARNS CO. INC.…

Court: United States District Court, S.D. New York

Date published: Jun 15, 2005

Civil Action Nos. 03 Civ. 2937 (WHP), 03 Civ. 2938 (WHP), 03 Civ. 2939 (WHP), 03 Civ. 2940 (WHP), 03 Civ. 2941 (WHP), 03 Civ. 2942 (WHP), 03 Civ. 2943 (WHP), 03 Civ. 2944 (WHP), 03 Civ. 2945 (WHP), 03 Civ. 2946 (WHP), 03 Civ. 2947 (WHP), 03 Civ. 2948 (WHP), 04 Civ. 6909 (WHP), 04 Civ. 6910 (WHP) (S.D.N.Y. Jun. 15, 2005)

Opinion

Civil Action Nos. 03 Civ. 2937 (WHP), 03 Civ. 2938 (WHP), 03 Civ. 2939 (WHP), 03 Civ. 2940 (WHP), 03 Civ. 2941 (WHP), 03 Civ. 2942 (WHP), 03 Civ. 2943 (WHP), 03 Civ. 2944 (WHP), 03 Civ. 2945 (WHP), 03 Civ. 2946 (WHP), 03 Civ. 2947 (WHP), 03 Civ. 2948 (WHP), 04 Civ. 6909 (WHP), 04 Civ. 6910 (WHP).

June 15, 2005

ORDER REGARDING ADDITIONAL FUNDS FOR THE DISTRIBUTION FUND

WILLIAM PAULEY, District Judge

ORDER REGARDING ADDITIONAL FUNDS FOR THE DISTRIBUTION FUND

On May 19, 2005, the SEC instituted a settled administrative proceeding against two former supervisors of Jack B. Grubman relating to the above-captioned proceedings against Grubman and Salomon Smith Barney, Inc., now known as Citigroup Global Markets, Inc. ("CGM"). In the Matter of John B. Hoffmann and Kevin J. McCaffrey, File No. 3-11930 (May 19, 2005). The supervisors, John B. Hoffmann and Kevin J. McCaffrey, each consented to pay civil penalties of $120,000 and disgorgement of $1.00. The SEC has requested that the total amount of $240,002 be added to the distribution fund account established pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002 for payments from CGM in connection with the above-captioned matter, SEC v. Citigroup Global Markets Inc., f/k/a Salomon Smith Barney, Inc., Case No. 03 Civ. 2945 (WHP). The Court approves of the addition of these funds to the CGM distribution fund account

SO ORDERED.