Securities and Exchange Commission v. Hilton, et al.., Civil Action No. 12-CV-81033-DMM/DLB

District Court Enters Permanent Injunction Against Defendants Joseph Hilton, F/K/a Joseph Yurkin and New Horizon Publishing Inc.

The Securities and Exchange Commission recently announced that on February 28, 2013, the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction by consent, against Defendant Joseph Hilton, f/k/a Joseph Yurkin enjoining him from violations of Sections 10(b) and Rules 10b-5, of the Securities Exchange Act of 1934 (“Exchange Act”) and Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 (“Securities Act”). United States District Judge Donald M. Middlebrooks additionally ordered Defendant Hilton to comply with the broker-dealer bar the Commission previously issued against him pursuant to Section 21(e) of the Exchange Act. Defendant Hilton shall also be required to disgorge any ill-gotten gains with pre-judgment interest and shall be ordered to pay a civil penalty determined at a later date.

Also, on March 21, 2013, the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction by consent, against Defendant New Horizon Publishing Inc enjoining New Horizon from violations of Section 15(a)(1), of the Exchange Act. Defendant New Horizon shall be required to disgorge any ill-gotten gains with pre-judgment interest and shall be ordered to pay a civil penalty determined at a later date.

The Commission commenced this action by filing its Complaint, Emergency Ex-Parte Motion for Temporary Restraining Order and Motion for Appointment of a Receiver on September 24, 2012, against Joseph Hilton, f/k/a Joseph Yurkin, Pacifica Northwestern Energy LLC, Rock Castle Drilling Fund LP, Rock Castel Drilling Fund II LP and New Horizon Publishing, Inc. On October 16, 2013, the Receiver, David Mandel, filed a motion to include Rock Castle Drilling Fund III, LP to the lawsuit. The Complaint alleges violations of the antifraud provisions of the federal securities laws.

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