ABS Manager, LLC and George Charles Cody Price

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23313 / July 30, 2015

Securities and Exchange Commission v. ABS Manager, LLC and George Charles Cody Price, United States District Court for the Southern District of California, Case No. 13-cv-00319-GPC (BGS) (S.D. Cal.) (February 8, 2013)

SEC Has Obtained Final Judgments Against George Charles Cody Price and ABS Manager, LLC

The Securities and Exchange Commission today announced that on July20, 2015, it obtained final judgments against ABS Manager, LLC and George Charles Cody Price.

In February 2013, the Commission sued Price and ABS Manager, alleging that from 2009 through February 2013, Price and ABS Manager defrauded investors by making material misrepresentations and omissions to investors regarding the risks associated with investing in three investment funds they managed, the rates of return generated by the funds, the assets under management, and Price's background.

Without admitting or denying the allegations against them, Price and ABS Manager consented to the entry of final judgments in which they have been permanently enjoined from violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c) thereunder, and Sections 206(1), 206(2), and 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-8 thereunder. In addition, Price and ABS Manager have been ordered, jointly and severally, to pay $362,648.83 in disgorgement and prejudgment interest, and to pay $150,000 and $725,000 in civil penalties, respectively.