Michael Lauer, et al.

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 19042 / January 21, 2005

SECURITIES AND EXCHANGE COMMISSION V. MICHAEL LAUER, ET AL., Case No. 03-80612-CIV-MARRA/VITUNAC (S.D. Fla).

SEC FILES CONTEMPT ACTION AGAINST MICHAEL LAUER FOR VIOLATING TWO COURT ORDERS REQUIRING HIM TO APPEAR FOR HIS DEPOSITION

The Securities and Exchange Commission announced that on January 11, 2005, it filed with the United States District Court for the Southern District of Florida an Application for an Order to Show Cause Why Michael Lauer Should Not be Held in Civil Contempt for Violating the Court's December 22, 2004 and January 4, 2005 Orders Requiring Him to Appear for his Duly Noticed Deposition. The Commission's contempt application asserts that despite two court orders requiring Lauer to appear for his duly noticed deposition, Lauer failed to appear for his deposition on January 5, 2005 and January 6, 2005. The Commission is seeking to have the Court hold Lauer in civil contempt and sanction him.

On January 13, 2005, Chief United States Magistrate Judge Ann E. Vitunac granted the Commission's Application and ordered Lauer to show cause in writing within 10 days why the Court should not recommend to the District Court that Lauer be held in civil contempt for violating the Orders.

For further information, see Litigation Release No. 18226 (July 10, 2003), Litigation Release No. 18247 (July 23, 2003), Litigation Release No. 18991 (December 2, 2004), Litigation Release No. 19018 (December 30, 2004) and Litigation Release No. 19019 (December 30, 2004).