Michael Lauer, et al.
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21394 / January 25, 2010
Securities and Exchange Commission v. Michael Lauer, et al.,, Civil Action No. 03-80612-CV-MARRA (S.D. Fla.)
Court Enters Judgment of Permanent Injunction Against Defendants Lancer Management Group, LLC and Lancer Management Group II, LLC and Disgorgement Judgment Against Relief Defendants Lancer Offshore, Inc., Lancer Partners, L.P., Omnifund, Ltd., LSPV, Inc. and LSPV, LLC and Commission Voluntarily Dismisses All Monetary Claims Against Them
The Securities and Exchange Commission announced that on January 21, 2010, the Honorable Kenneth A. Marra, United States District Court Judge for the Southern District of Florida, dismissed with prejudice, the Commission's claims for disgorgement, prejudgment interest and civil penalties against Defendants Lancer Management Group, LLC and Lancer Management Group II, LLC (Corporate Defendants) and its claims for disgorgement and prejudgment interest against Relief Defendants Lancer Offshore, Inc., Lancer Partners, LP, Omnifund Ltd., LSVP, Inc. and LSPV, LLC (Relief Defendants). The Commission requested that the Court dismiss these claims, because all of the Corporate Defendants and Relief Defendants are under the control of the Court-Appointed Receiver, who will distribute these entities remaining assets to defrauded investors.
Previously, on September 21, 2009, Judge Marra entered a permanent injunction against the Corporate Defendants and a disgorgement judgment against Relief Defendants. The judgment enjoins the Corporate Defendants from violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder, and Sections 206(1) and (2) of the Investment Advisers Act of 1940. The Corporate Defendants and Relief Defendants consented to entry of the judgment without admitting or denying the allegations in the Commission's complaint.
For more information on earlier actions in this case, see LR-18226 (July 10, 2003), LR- 18247 (July 23, 2003), LR-18991 (December 2, 2004), LR-19018 (December 30, 2004) and LR- 19019 (December 30, 2004); LR-19042 (January 21, 2005), LR-19186 (April 15, 2005); LR- 19590 (March 6, 2006); LR-19661 (April 18, 2006); LR-20505 (March 21, 2008); LR-20751 (Sept. 29, 2008); LR-21046 (May 19, 2009) and LR-21211 (Sept. 16, 2009).