Securities & Exchange Commission v. Schvacho

FINDINGS OF FACT AND CONCLUSIONS OF LAW

WILLIAM S. DUFFEY, JR., District Judge.

This matter is before the Court following a bench trial held from November 18 to 19, 2013, on the Securities and Exchange Commission’s (“Plaintiff’ or “SEC”) claims against Ladislav “Larry” Schvacho (“Schvacho” or “Defendant”).

I. FINDINGS OF FACT1

A. Nature of the Action

This is a civil enforcement action brought by the SEC against Schvacho alleging Schvacho engaged in trading of the stock of Comsys IT Partners, Inc. (“Comsys IT”) (formerly NASDAQ: CITP) based on material, nonpublic information about the acquisition…