S.E.C. v. WYLY

No. 10 Civ. 5760 (SAS).

860 F.Supp.2d 275 (2012)

SECURITIES and EXCHANGE COMMISSION, Plaintiff, v. Samuel WYLY, Donald R. Miller, Jr., in his Capacity as the Independent Executor of the Will and Estate of Charles J. Wyly, Jr., Michael C. French, and Louis J. Schaufele III, Defendants.

United States District Court, S.D. New York.

January 27, 2012.


Attorney(s) appearing for the Case

Alan M. Lieberman, Esq., Gregory Nelson Miller, Esq., Cheryl J. Scarboro, Esq., John David Worland, Jr., Esq., Martin Louis Zerwitz, Esq., United States Securities and Exchange Commission, Washington, DC., for the SEC.

William Andrew Brewer, III, Esq., Michael J. Collins, Esq., James S. Renard, Esq., Michael L. Smith, Esq., Bickel & Brewer, Dallas, TX, Martin Robert Pollner, Esq., John Anthony Piskora, Esq., Loeb & Loeb, LLP, New York, NY, for Samuel E. Wyly.

Stephen D. Susman, Esq., Susman Godfrey LLP, New York, NY, for Donald R. Miller, Jr., in his Capacity as the Independent Executor of the Will and Estate of Charles J. Wyly, Jr.

Martin Joel Auerbach, Esq., New York, NY, Laura Elizabeth Neish, Esq., Zuckerman Spaeder, LLP, New York, NY, Luke Madole, Esq., Todd Murray, Esq., Carrington, Coleman, Sloman & Blumenthal, LLP, Dallas, TX, Corbet Franklin Bryant, Jr., Esq., Richardson, TX, for Louis J. Schaufele, III.

Danny S. Ashby, Esq., Robert E. Davis, Esq., Barrett R. Howell, Esq., Casey P. Kaplan, Esq., K & L Gates, LLP, Dallas, TX, Laura A Brevetti, Esq., K & L Gates, LLP, New York, NY, for Michael C. French.


OPINION AND ORDER

SHIRA A. SCHEINDLIN, District Judge:

I. INTRODUCTION

In July 2010, the Securities and Exchange Commission ("SEC") brought a securities enforcement action against Charles J. Wyly, Jr. and three other defendants. The action sought civil penalties, injunctive relief, and disgorgement against Charles Wyly. On August 7, 2011, Charles Wyly was killed in an automobile accident near...

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