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Securities and Exchange Commission v. Lu

United States District Court, D. Massachusetts

September 6, 2019

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
MICHAEL LU, Defendant.

          FINAL-DEFAULT-JUDGMENT AS TO DEFENDANT MICHAEL LU

          DOUGLAS P. WOODLOCK UNITED STATES DISTRICT JUDGE

         The Securities and Exchange Commission (“Commission”) having filed a Complaint, and defendant Michael Lu (“Lu”) having failed to answer, plead or otherwise defend in this action; a default having been entered against him on December 4, 2014; and the Court having determined that Lu is not an infant, incompetent person or in the military service of the United States:

         I.

         IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant Lu is permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of interstate commerce, or of the mails, or of any facility of any national securities exchange, in connection with the purchase or sale of any security:

(a) to employ any device, scheme, or artifice to defraud;
(b) to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or
(c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.

         IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant Lu's officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or participation with Defendant Lu or with anyone described in (a).

         II.

         IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant Lu is permanently restrained and enjoined from violating Section 17(a) of the Securities Act of 1933 (the “Securities Act”) [15 U.S.C. § 77q(a)] in the offer or sale of any security by the use of any means or instruments of transportation or communication in interstate commerce or by use of the mails, directly or indirectly:

(a) to employ any device, scheme, or artifice to defraud;
(b) to obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or
(c) to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.

         IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant Lu's officers, agents, servants, employees, and attorneys; and (b) other ...


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