SEC v. U.S. Sustainable Energy Corporation; and John D. Stanton, No. LR-20182, Northern District of Georgia (July 5, 2007) — Press Release
raw: U.S. Sustainable Energy Corporation and John D. Stanton
U.S. Sustainable Energy Corporation and John D. Stanton, No. 1:07-CV-1547 (July 5, 2007)
The SEC sought to enforce subpoenas against U.S. Sustainable Energy Corporation (Florida) and John D. Stanton for failing to produce documents in an investigation into possible false statements during merger talks with a related Mississippi entity and insider trading, with no charges or penalties yet issued.
The SEC filed an application on July 2, 2007, to enforce investigative subpoenas against U.S. Sustainable Energy Corporation (USSE-FL) and its principal, John D. Stanton, for noncompliance with document requests. The investigation, initiated on May 3, 2007, examines potential securities law violations including false or misleading statements in merger discussions involving USSE-FL and the related Mississippi-based USSE-MS, as well as possible insider trading. No specific dollar amounts or formal charges were disclosed, as the filing concerns only subpoena enforcement, not litigation or penalties.
On July 2, 2007, the U.S. Securities and Exchange Commission filed an application in the Northern District of Georgia to enforce investigative subpoenas against U.S. Sustainable Energy Corporation (USSE-FL), a privately-held Florida corporation, and its principal, John D. Stanton. The subpoenas, issued under a Formal Order of Private Investigation dated May 3, 2007, sought documents related to possible securities law violations, including false or misleading statements made during merger discussions involving USSE-FL and a separate but related entity, U.S. Sustainable Energy Corporation headquartered in Mississippi (USSE-MS). The SEC also alleged possible insider trading and other violations tied to these entities. Neither USSE-FL nor Stanton had complied with the subpoenas, prompting the Commission’s enforcement action. No specific dollar amounts, formal charges, or penalties were disclosed, as this proceeding was limited to compelling document production. A hearing on the enforcement application had not yet been scheduled as of the filing date. The action highlights the SEC’s use of subpoena enforcement to gather evidence in complex, multi-jurisdictional investigations before initiating formal litigation.
Extracted insights
- person John D. Stanton ×2
- agency sec subpoena enforcement action
- agency Securities and Exchange Commission
- organization United States District Court For The Northern District Of Georgia
- company u.s. sustainable energy corporation
- organization U.S. Sustainable Energy Corporation
- U.S. Sustainable Energy Corporation was targeted by SEC subpoena enforcement action
- John D. Stanton was targeted by SEC subpoena enforcement action
- SEC filed application to enforce subpoenas on July 2, 2007
- SEC initiated civil action No. 1:07-CV-1547 in Northern District of Georgia
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 20182 / July 5, 2007 SEC v. U.S. Sustainable Energy Corporation and John D. Stanton, Civil Action No. 1:07-CV-1547 (N.D. GA filed July 2, 2007) Commission Files Subpoena Enforcement Action Against U.S. Sustainable Energy Corporation and John D. Stanton On July 2, 2007, the Securities and Exchange Commission filed an application with the United States District Court for the Northern District of Georgia for an order to enforce investigative subpoenas served on U.S. Sustainable Energy Corporation, a privately-held Florida corporation located in Seffner, Florida ("USSE-FL"), and John D. Stanton, a resident of Tampa, Florida. The Commission's application and supporting papers allege that on May 3, 2007, the Commission issued a Formal Order of Private Investigation entitled In the Matter of U.S. Sustainable Energy Corporation. According to the Commission's application, USSE-FL and Stanton have failed to comply with validly issued and served subpoenas for documents relating to this investigation, which involves, but is not limited to, a separate but related corporation known as U.S. Sustainable Energy Corporation, which is headquartered in Mississippi ("USSE-MS"), and others. The investigation relates to possible false and misleading statements by companies engaged in merger discussions, possible insider trading activity, and other possible securities law violations. A hearing on the Commission's application has not yet been scheduled.U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 20182 / July 5, 2007 SEC v. U.S. Sustainable Energy Corporation and John D. Stanton, Civil Action No. 1:07-CV-1547 (N.D. GA filed July 2, 2007) Commission Files Subpoena Enforcement Action Against U.S. Sustainable Energy Corporation and John D. Stanton On July 2, 2007, the Securities and Exchange Commission filed an application with the United States District Court for the Northern District of Georgia for an order to enforce investigative subpoenas served on U.S. Sustainable Energy Corporation, a privately-held Florida corporation located in Seffner, Florida ("USSE-FL"), and John D. Stanton, a resident of Tampa, Florida. The Commission's application and supporting papers allege that on May 3, 2007, the Commission issued a Formal Order of Private Investigation entitled In the Matter of U.S. Sustainable Energy Corporation. According to the Commission's application, USSE-FL and Stanton have failed to comply with validly issued and served subpoenas for documents relating to this investigation, which involves, but is not limited to, a separate but related corporation known as U.S. Sustainable Energy Corporation, which is headquartered in Mississippi ("USSE-MS"), and others. The investigation relates to possible false and misleading statements by companies engaged in merger discussions, possible insider trading activity, and other possible securities law violations. A hearing on the Commission's application has not yet been scheduled.