Steven V. Cotton

Litigation Release No. 17799 / October 23, 2002

Securities and Exchange Commission v. Steven V. Cotton, Case No. SA CV 02-973 (DOC)(MLGx)(C.D. Cal.)

SEC Seeks to Enforce Subpoena against Former Officer of Lantronix

On October 22, 2002, the Commission filed an application with the United States District Court for the Central District of California, Southern Division, for an order to enforce an investigative subpoena served on Steven V. Cotton, the former Chief Financial Officer and Chief Operating Officer of Irvine, California-based Lantronix, Inc. The subpoena seeks documents from Cotton regarding, among other things, Cotton's financial and brokerage information.

The Commission's application alleges that Cotton has not fully complied with the subpoena issued by the Commission and that Cotton has no valid justification for his failure to comply. A hearing on the Commission's application has not yet been scheduled.