United States Securities and Exchange Commission v. Jauyo (Jason) Lee, Victor Chen, and Jennifer Chen
Published: Jan. 24, 2015 | Result Date: Apr. 24, 2014 | Filing Date: Jan. 1, 1900 |Case number: 3:12-cv-05031-RS Settlement – Permanent Injunction
Court
USDC Northern
Attorneys
Plaintiff
Defendant
William H. Kimball
(The Law Office of William H. Kimball)
Facts
The Securities and Exchange Commission filed a complaint against Jauyo "Jason" Lee, Victor Chen, and relief defendant Jennifer Chen.
Jennifer Chen settled with plaintiff early on.
Contentions
PLAINTIFF'S CONTENTIONS:
Plaintiff alleged that Victor Chen traded in Jennifer Chen's account using inside information. Plaintiff alleged that Jason Lee tipped Victor Chen about two upcoming corporate takeovers.
DEFENDANTS' CONTENTIONS:
Each defendant filed a separate answer denying the SEC's allegations. Each asserted various affirmative defenses.
Result
The parties entered into the entry of final judgment. Jennifer Chen agreed to disgorge $6,179 in profits, plus $564 in interest. Lee and Victor Chen agreed to an injunction permanently enjoining them from violating the SEC Act and Rules.
Other Information
FILING DATE: Sept. 27, 2012.
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