SEC v. Terrence LeGall, No. LR-24047, Southern District of New York (Feb. 14, 2018) — Press Release
raw: Terrence LeGall
Terrence LeGall, No. LR-24047 (S.D.N.Y. Feb. 14, 2018)
Terrence LeGall, CEO of LeGall Holdings, Inc
Terrence LeGall, CEO of LeGall Holdings, Inc., is accused of failing to comply with an SEC investigative subpoena. The alleged fraud under investigation involves potential false statements or failure to disclose material facts in LeGall Holdings' public filings. No specific dollar amounts are mentioned. LeGall was charged with civil contempt of court and ordered to be arrested and incarcerated until he complies with the subpoena enforcement order. The outcome is ongoing, with the SEC continuing its investigation.
Terrence LeGall, CEO of LeGall Holdings, Inc., is accused of failing to comply with an SEC investigative subpoena. The alleged fraud under investigation involves potential false statements or failure to disclose material facts in LeGall Holdings' public filings. No specific dollar amounts are mentioned. LeGall was charged with civil contempt of court and ordered to be arrested and incarcerated until he complies with the subpoena enforcement order. The outcome is ongoing, with the SEC continuing its investigation. Terrence LeGall, CEO of development-stage company LeGall Holdings, Inc., was held in civil contempt by Judge Ronnie Abrams of the Southern District of New York for willfully failing to comply with a court order enforcing an SEC investigative subpoena. The SEC had subpoenaed LeGall in June 2017 for documents and testimony related to potential false or misleading statements in the company’s public filings, but he produced nothing and refused to appear. After the court ordered compliance in September 2017 and LeGall still defied it, he was arrested in December 2017 and ordered jailed until he purged the contempt by obeying the subpoena. The SEC has not yet concluded any securities law violations, and the enforcement action remains focused on compelling cooperation, not on final charges. Terrence LeGall, CEO of development-stage company LeGall Holdings, Inc., was held in civil contempt by Judge Ronnie Abrams of the Southern District of New York for willfully failing to comply with a court order enforcing an SEC investigative subpoena. The SEC sought documents and testimony from LeGall regarding potential false or misleading statements in the company’s public filings, but he produced no materials and refused to appear. After the court ordered compliance on September 13, 2017, and LeGall still defied the order, he was arrested on December 26, 2017, and incarcerated until he purges his contempt by obeying the subpoena. The SEC has not yet concluded whether securities laws were violated, as its investigation remains ongoing.
Extracted insights
- agency court order enforcing an sec investigative subpoena
- location delaware
- person judge ronnie abrams
- company legall holdings, inc.
- person terrence legall
- Terrence LeGall is CEO of LeGall Holdings, Inc.
- LeGall Holdings, Inc. is incorporated in Delaware
- LeGall Holdings, Inc. specializes in Caribbean and American cuisine
- Judge Ronnie Abrams issued order finding Terrence LeGall in civil contempt of court
- Terrence LeGall failed to comply with Court Order Enforcing an SEC Investigative Subpoena
- Terrence LeGall failed to comply a court order enforcing an SEC investigative subpoena
- Judge Ronnie Abrams issued an order finding Terrence LeGall in civil contempt of court
- Terrence LeGall is CEO of LeGall Holdings, Inc., a development stage company incorporated in Delaware
- Terrence LeGall found in contempt civil contempt of court
- Judge Ronnie Abrams issued an order finding Terrence LeGall in contempt
- Terrence LeGall failed to comply a court order enforcing an SEC investigative subpoena
- Securities and Exchange Commission filed a lawsuit against Terrence LeGall
- LeGall Holdings, Inc. purports to specialize Caribbean and American cuisine
- Terrence LeGall serves as CEO LeGall Holdings, Inc.
- LeGall Holdings, Inc. incorporated in Delaware
- United States District Court for the Southern District of New York issued an order on December 26, 2017
- Terrence LeGall found in contempt United States District Court
- Terrence LeGall failed to comply Court Order
- SEC enforced investigative subpoena
- Judge Ronnie Abrams issued order December 26, 2017
- Terrence LeGall is CEO LeGall Holdings, Inc.
- LeGall Holdings, Inc. incorporated in Delaware
Court Holds CEO of Development Stage Company in Contempt for Failing to Comply with a Court Order Enforcing an SEC Investigative Subpoena Litigation Release No. 24047 / February 14, 2018 Securities and Exchange Commission v. Terrence LeGall, No. 17-Misc-291 (S.D.N.Y.) On December 26, 2017, Judge Ronnie Abrams of the United States District Court for the Southern District of New York issued an order finding Terrence LeGall, the CEO of LeGall Holdings, Inc., a development stage company incorporated in Delaware that purports to specialize in Caribbean and American cuisine, to be in civil contempt of court for failing to comply with the court's prior order enforcing an SEC investigative subpoena directed to Terrence LeGall. The SEC is investigating, among other things, whether LeGall Holdings, Inc. and others may have made false statements of material fact or failed to disclose material facts in connection with LeGall Holdings, Inc.'s public filings. On June 12, 2017, the SEC issued an investigative subpoena to Terrence LeGall requiring him to produce certain documents and appear for testimony. However, Terrence LeGall failed to produce any documents, appear for testimony, or otherwise respond to the subpoena. The SEC filed this subpoena enforcement action on August 7, 2017, and on September 13, 2017, the court entered an order requiring Terrence LeGall to comply with the SEC subpoena. Terrence LeGall failed to comply with the court's order, and, after holding a hearing on December 18, 2017, the court held Terrence LeGall in civil contempt. The court ordered Terrence LeGall arrested and incarcerated until he purges himself of the court's contempt by complying with the subpoena enforcement order. The SEC is continuing its fact-finding investigation and to date has not concluded that anyone has violated the securities laws.
Court Holds CEO of Development Stage Company in Contempt for Failing to Comply with a Court Order Enforcing an SEC Investigative Subpoena Litigation Release No. 24047 / February 14, 2018 Securities and Exchange Commission v. Terrence LeGall, No. 17-Misc-291 (S.D.N.Y.) On December 26, 2017, Judge Ronnie Abrams of the United States District Court for the Southern District of New York issued an order finding Terrence LeGall, the CEO of LeGall Holdings, Inc., a development stage company incorporated in Delaware that purports to specialize in Caribbean and American cuisine, to be in civil contempt of court for failing to comply with the court's prior order enforcing an SEC investigative subpoena directed to Terrence LeGall. The SEC is investigating, among other things, whether LeGall Holdings, Inc. and others may have made false statements of material fact or failed to disclose material facts in connection with LeGall Holdings, Inc.'s public filings. On June 12, 2017, the SEC issued an investigative subpoena to Terrence LeGall requiring him to produce certain documents and appear for testimony. However, Terrence LeGall failed to produce any documents, appear for testimony, or otherwise respond to the subpoena. The SEC filed this subpoena enforcement action on August 7, 2017, and on September 13, 2017, the court entered an order requiring Terrence LeGall to comply with the SEC subpoena. Terrence LeGall failed to comply with the court's order, and, after holding a hearing on December 18, 2017, the court held Terrence LeGall in civil contempt. The court ordered Terrence LeGall arrested and incarcerated until he purges himself of the court's contempt by complying with the subpoena enforcement order. The SEC is continuing its fact-finding investigation and to date has not concluded that anyone has violated the securities laws.