2023-08-02 sec-litreleases judgment 143 KB 4,318 chars

SEC v. Janardhan Nellore, Northern District of California (Aug. 2, 2023) — Judgment

raw: SEC v. JANARDHAN NELLORE

SEC v. JANARDHAN NELLORE (Aug. 2, 2023)

Caption: Securities and Exchange Commission v. Janardhan Nellore

summary

Janardhan Nellore entered a final judgment with the SEC, agreeing to a permanent injunction against securities fraud and a $16,614 financial obligation satisfied via criminal forfeiture.

paragraph

The SEC obtained a final judgment against Janardhan Nellore for violations of Section 10(b) of the Exchange Act and Rule 10b-5. The court ordered Nellore liable for $14,643 in disgorgement and $1,971 in prejudgment interest, totaling $16,614. This financial obligation was deemed satisfied by a forfeiture order from a related criminal case where Nellore pleaded guilty.

narrative

The Securities and Exchange Commission obtained a final judgment against Janardhan Nellore in the Northern District of California for securities fraud. The judgment permanently enjoins Nellore from violating Section 10(b) of the Exchange Act and Rule 10b-5 through fraudulent schemes or material misstatements. Nellore was held liable for $14,643 in disgorgement plus $1,971 in prejudgment interest, amounting to a total of $16,614. This financial obligation was satisfied via a forfeiture order from a related criminal case, United States v. Janardhan Nellore, where he pleaded guilty to related conduct. Nellore consented to the judgment, waived his right to appeal, and admitted the allegations were true for purposes of bankruptcy discharge exceptions. The court retains jurisdiction to enforce the terms of this final judgment.

Enriched metadata

Scheme: financial-fraud (95%)
Court: Northern District of California
Outcome: pleaded
Disgorgement: $14,643

Classified financial-fraud(confidence 95%). EDGAR detection: forms 10-K/10-Q/8-K/NT 10-K· recall 67% / precision 23%. detection rule →

Extracted insights

Dollar amounts 4

$17K $16,614 $10K–$100K
$17K $16,614 $10K–$100K
$15K $14,643 $10K–$100K
$2K $1,971 <$10K

Entities 3

agency a total of $16,614 to the securities and exchange commission
person janardhan nellore
agency Securities and Exchange Commission

Triples 12

Securities and Exchange Commission filed a Complaint
Janardhan Nellore entered a general appearance
Janardhan Nellore consented to the Court’s jurisdiction over the action
Janardhan Nellore consented to entry of the Final Judgment
Janardhan Nellore waived findings of fact and conclusions of law
Janardhan Nellore waived any right to appeal from the Final Judgment
Janardhan Nellore is restrained from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
Janardhan Nellore is liable for disgorgement of $14,643
Janardhan Nellore is liable for prejudgment interest of $1,971
Janardhan Nellore owes a total of $16,614 to the Securities and Exchange Commission
Janardhan Nellore pleaded guilty to criminal conduct in United States v. Janardhan Nellore
Janardhan Nellore shall comply with all undertakings and agreements

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SEC v. JANARDHAN NELLORE · Source

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Extracted body text (4,318c)

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SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,
v.
JANARDHAN NELLORE, et al.,
Defendants.
Case No. 3:19-cv-08207-RS
FINAL JUDGMENT AS TO
DEFENDANT JANARDHAN NELLORE
The Securities and Exchange Commission having filed a Complaint and Defendant
Janardhan Nellore having entered a general appearance; consented to the Court’s jurisdiction over
Defendant and the subject matter of this action; consented to entry of this Final Judgment; waived
findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment:
I.
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant 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,
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA

FINAL JUDGMENT AS TO DEFENDANT
JANARDHAN NELLORE
2CASE NO. 3:19-cv-08207-RS
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(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’s officers,
agents, servants, employees, and attorneys; and (b) other persons in active concert or participation
with Defendant or with anyone described in (a).
II.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable for
disgorgement of $14,643, representing profits gained as a result of the conduct alleged in the
Complaint, together with prejudgment interest thereon in the amount of $1,971, for a total of $16,614.
Defendant’s obligation to pay $16,614 to the Securities and Exchange Commission, however, is
deemed satisfied by the order of forfeiture against Defendant in United States v. Janardhan Nellore,
Crim. No. 3:19-cr-00463-RS, (N.D. Cal.), where Defendant pleaded guilty to criminal conduct
relating to certain matters alleged in the complaint in this action.
III.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is
incorporated herein with the same force and effect as if fully set forth herein, and that Defendant
shall comply with all of the undertakings and agreements set forth therein.
IV.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, for purposes of
exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. § 523, the
or of the mails, or of any facility of any national securities exchange, in connection with the
purchase or sale of any security:

FINAL JUDGMENT AS TO DEFENDANT
JANARDHAN NELLORE
3CASE NO. 3:19-cv-08207-RS
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allegations in the complaint are true and admitted by Defendant, and further, any debt for
disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant under this
Final Judgment or any other judgment, order, consent order, decree or settlement agreement entered
in connection with this proceeding, is a debt for the violation by Defendant of the federal securities
laws or any regulation or order issued under such laws, as set forth in Section 523(a)(19) of the
Bankruptcy Code, 11 U.S.C. § 523(a)(19).
V.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain
jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment.
VI.
There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil
Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice.
IT IS SO ORDERED.
Dated: 8/1/2023
Richard Seeborg
UNITED STATES DISTRICT JUDGE

OCR text (4,801c · tika · 95% conf)

SECURITIES AND EXCHANGE COMMISSION,

Plaintiff,

JANARDHAN NELLORE, et al.,

Defendants.

Case No. 3:19-cv-08207-RS

FINAL JUDGMENT AS TO
DEFENDANT JANARDHAN NELLORE

The Securities and Exchange Commission having filed a Complaint and Defendant

Janardhan Nellore having entered a general appearance; consented to the Court’s jurisdiction over

Defendant and the subject matter of this action; consented to entry of this Final Judgment; waived

findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment:

IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant 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,

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

Case 3:19-cv-08207-RS Document 71 Filed 08/01/23 Page 1 of 3

FINAL JUDGMENT AS TO DEFENDANT

JANARDHAN NELLORE
2 CASE NO. 3:19-cv-08207-RS

(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

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’s officers,

agents, servants, employees, and attorneys; and (b) other persons in active concert or participation

with Defendant or with anyone described in (a).

II.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable for

disgorgement of $14,643, representing profits gained as a result of the conduct alleged in the

Complaint, together with prejudgment interest thereon in the amount of $1,971, for a total of $16,614.

Defendant’s obligation to pay $16,614 to the Securities and Exchange Commission, however, is

deemed satisfied by the order of forfeiture against Defendant in United States v. Janardhan Nellore,

Crim. No. 3:19-cr-00463-RS, (N.D. Cal.), where Defendant pleaded guilty to criminal conduct

relating to certain matters alleged in the complaint in this action.

III.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is

incorporated herein with the same force and effect as if fully set forth herein, and that Defendant

shall comply with all of the undertakings and agreements set forth therein.

IV.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, for purposes of

exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. § 523, the

or of the mails, or of any facility of any national securities exchange, in connection with the

purchase or sale of any security:

Case 3:19-cv-08207-RS Document 71 Filed 08/01/23 Page 2 of 3

FINAL JUDGMENT AS TO DEFENDANT

JANARDHAN NELLORE
3 CASE NO. 3:19-cv-08207-RS

allegations in the complaint are true and admitted by Defendant, and further, any debt for

disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant under this

Final Judgment or any other judgment, order, consent order, decree or settlement agreement entered

in connection with this proceeding, is a debt for the violation by Defendant of the federal securities

laws or any regulation or order issued under such laws, as set forth in Section 523(a)(19) of the

Bankruptcy Code, 11 U.S.C. § 523(a)(19).

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain

jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment.

VI.

There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil

Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice.

IT IS SO ORDERED.

Dated: 8/1/2023
Richard Seeborg
UNITED STATES DISTRICT JUDGE

Case 3:19-cv-08207-RS Document 71 Filed 08/01/23 Page 3 of 3