SEC v. Pak-Man Resources, Inc.
No. 91-6744-CIV-MOORE (S.D. Fla. 1991)
Matter at a glance
- Year
- 1991
- Agency
- U.S. Securities and Exchange Commission
- Forum
- Federal court
- Mr. Lehrer's role
- Principal litigator
- Docket / file
- No. 91-6744-CIV-MOORE (S.D. Fla. 1991)
What the matter involved
Fraudulent distribution of Canadian stocks.
The matter was brought by the U.S. Securities and Exchange Commission and heard as a federal court. Mr. Lehrer worked the file as a principal litigator, which meant building the record on the government's side — the documents, the testimony, and the theory of the violation — rather than responding to it.
- Cross-border offering. Selling into or out of the United States does not remove the transaction from U.S. law; overseas placement is a recurring aggravating fact.
- Distribution fraud. Distribution fraud was one of the issues at the centre of this matter and remains a recurring theme in agency enforcement.
Outcome and public record
This matter was resolved on the public record of the U.S. Securities and Exchange Commission under No. 91-6744-CIV-MOORE (S.D. Fla. 1991). Out of respect for the individuals and entities named, this page does not restate penalties, bars, or sentences. The agency's own release for the matter is the authoritative record of its disposition.
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Past results in government enforcement matters do not predict or guarantee the result of any future matter. This page describes work performed on behalf of a government agency before Mr. Lehrer entered private practice in 2000.
Why this matters to issuers today
The staff still builds files the same way: start with the public document, test it against the company's own records, and interview the people who signed. Knowing how that record gets assembled is the reason issuers bring this experience in at the drafting stage — before a filing, an offering, or a promotion creates the paper trail a later investigation would follow.
Questions about a filing, an offering, or a promotion?
Talk directly to a former SEC enforcement attorney — no intake staff, no forms.