Securities and Exchange Commission v. Punch TV Studios Inc.

I. BACKGROUND

24 By this Motion, the SEC seeks summary adjudication of its claims that 25 Defendant Joseph Collins and his company, Defendant Punch TV, violated Sections 26 5(a) and 5(c) of the Securities Act of 1933, 15 U.S.C. §§ 77e(a), 77e(c). Section 27 5(a)(1) of the Securities Act prohibits the direct or indirect sale of securities unless a 28 registration statement is in effect, and Section 5(c) prohibits the offer or sale of securities unless a registration statement is in effect. The purpose of the registration requirement is “to protect investors by promoting full disclosure of information thought necessary to informed investment decisions.” SEC v. Ralston Purina, 346 U.S. 119, 124 (1953). II. UNDISPUTED FACTS AND CONCLUSIONS OF LAW The Court has reviewed the SEC’s Statement of Uncontroverted Facts and the evidence filed in support thereof and finds that the facts are adequately supported by the evidence and that they are undisputed. The Court incorporates them herein by reference. In brief, the undisputed facts establish that in 2016, Punch TV filed documents (“Offering Statement”) with the SEC to conduct an exempt $1…