SEC v. Tom Simeo, No. LR-24040, District of Columbia (Feb. 2, 2018) — Press Release
raw: Tom Simeo
Tom Simeo, No. 1:17-MC-03194 (D.D.C. Feb. 2, 2018)
Tom Simeo, former Executive Chairman of a public company, was ordered by the U.S. District Court for the District of Columbia to comply with SEC subpoenas for documents and testimony in an ongoing investigation into potential federal securities law violations.
The SEC initiated an enforcement action against Simeo after he failed to produce communications regarding former board members and refused to appear for scheduled testimony. The court order, issued on January 31, 2018, mandates that Simeo produce all responsive documents and appear for compelled testimony. No charges have been filed to date, as the SEC's investigation remains open.
The U.S. District Court for the District of Columbia issued an order directing Tom Simeo, the former Executive Chairman of a public company, to comply with SEC subpoenas for documents and testimony. The SEC initiated this enforcement action following Simeo's failure to produce communications regarding former board members, which were requested in a March 2017 subpoena, and his refusal to appear for scheduled testimony, which was compelled by a subsequent August 2017 subpoena. Simeo initially agreed to appear for testimony but later declined. The court order, issued on January 31, 2018, mandates that Simeo must now produce all responsive documents and appear for compelled testimony. The SEC's investigation, led by Laura D'Allaird and Jeffrey Anderson, remains open, and no charges have been filed to date. The enforcement action was litigated by John Worland, with supervision by Peter Rosario, Yuri B. Zelinsky, and Antonia Chion.
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SEC Obtains Court Order Directing Witness to Produce Documents and Testify Litigation Release No. 24040/February 2, 2018 Securities and Exchange Commission v. Tom Simeo, Misc. Action No. 1:17-MC-03194 (TNM) (D.D.C. filed Dec. 5, 2017) The U.S. District Court for the District of Columbia entered an order on January 31, 2018, directing Tom Simeo, the former Executive Chairman of a public company, to comply with subpoenas issued in an ongoing investigation by the SEC's Division of Enforcement. The SEC filed the subpoena enforcement action against Simeo on December 5, 2017. The SEC staff had issued a subpoena to Simeo on March 10, 2017, requiring the production of, among other things, communications relating to former members of the company's board of directors. Simeo produced no communications in response to the subpoena. The SEC staff issued a second subpoena to Simeo on August 3, 2017, compelling his testimony. Simeo initially agreed to appear for testimony, but subsequently declined to testify and failed to appear on the appointed date. The district court's order requires Simeo to fully comply with the subpoenas by producing responsive documents and appearing for testimony. The SEC staff is continuing its investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws. The SEC's investigation is being conducted by Laura D'Allaird and Jeffrey Anderson, and supervised by Peter Rosario, Yuri B. Zelinsky, and Antonia Chion. John Worland led the subpoena enforcement litigation. See also: Litigation Release No. 24002 (Dec. 5, 2017)
SEC Obtains Court Order Directing Witness to Produce Documents and Testify Litigation Release No. 24040/February 2, 2018 Securities and Exchange Commission v. Tom Simeo, Misc. Action No. 1:17-MC-03194 (TNM) (D.D.C. filed Dec. 5, 2017) The U.S. District Court for the District of Columbia entered an order on January 31, 2018, directing Tom Simeo, the former Executive Chairman of a public company, to comply with subpoenas issued in an ongoing investigation by the SEC's Division of Enforcement. The SEC filed the subpoena enforcement action against Simeo on December 5, 2017. The SEC staff had issued a subpoena to Simeo on March 10, 2017, requiring the production of, among other things, communications relating to former members of the company's board of directors. Simeo produced no communications in response to the subpoena. The SEC staff issued a second subpoena to Simeo on August 3, 2017, compelling his testimony. Simeo initially agreed to appear for testimony, but subsequently declined to testify and failed to appear on the appointed date. The district court's order requires Simeo to fully comply with the subpoenas by producing responsive documents and appearing for testimony. The SEC staff is continuing its investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws. The SEC's investigation is being conducted by Laura D'Allaird and Jeffrey Anderson, and supervised by Peter Rosario, Yuri B. Zelinsky, and Antonia Chion. John Worland led the subpoena enforcement litigation. See also: Litigation Release No. 24002 (Dec. 5, 2017)