Securities & Exchange Commission v. Daly

MEMORANDUM OPINION

COLLEEN KOLLAR-KOTELLY, District Judge.

The Securities and Exchange Commission (“SEC”) brought this action charging Defendant Timothy Daly (“Daly”) with signing false audit statements as part of a scheme to overstate the income of U.S. Foodservice (“USF”), a subsidiary of Kon-inklijke Ahold N.V. (“Ahold”). Daly consented to a proposed Final Judgment (the “Consent Judgment”) entered by the Court on August 31, 2006, permanently enjoining him from aiding and abetting violations of the Securities Exchange Act. The Consent Judgment expressly provided that the amount of monetary…