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908 F. Supp. 718 *; 1995 U.S. Dist. LEXIS 20966 **; Fed. Sec. L. Rep. (CCH) P99,041
SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. CROSS FINANCIAL SERVICES, INC., et al., Defendants.
Subsequent History: Affirmed by SEC v. Colello, 139 F.3d 674, 1998 U.S. App. LEXIS 5016 (9th Cir. Cal., 1998)
Prior History: SEC v. Cross Fin. Servs., 1995 U.S. Dist. LEXIS 20266 (C.D. Cal., Sept. 5, 1995)
Disposition: [**1] The SEC's motions for summary judgment against defendants Fox, Franklin, Cross, Siemens, and nominal defendant Colello are granted and Colello's motion to dismiss or for summary judgment is denied.
investors, disgorgement, funds, prejudgment interest, severally liable, jointly, letter of credit, pre-bankruptcy, transferred, Receiver, consultants, factoring, material fact, brochure, amounts, summary judgment, promissory note, sales, deposited, invested, accounts receivable, interstate commerce, instruments, nominal, nominal defendant, loans, bank account, Securities Act, declarations, ill-gotten
Commercial Law (UCC), Secured Transactions (Article 9), Third Party Rights, Assignments, Civil Procedure, Summary Judgment, Motions for Summary Judgment, General Overview, Entitlement as Matter of Law, Genuine Disputes, Responses, Defenses, Demurrers & Objections, Motions to Dismiss, Discovery, Methods of Discovery, Judgments, Legal Entitlement, Materiality of Facts, Supporting Materials, Discovery Materials, Evidence, Burdens of Proof, Allocation, Movant Persuasion & Proof, Nonmovant Persuasion & Proof, Business & Corporate Compliance, Contracts Law, Types of Contracts, Investment Contracts, Securities Law, Blue Sky Laws, Offers & Sales, Exemptions & Exclusions, Excluded Transactions, Types of Securities, Securities Exchange Act of 1934 Actions, Implied Private Rights of Action, Deceptive & Manipulative Devices, Torts, Standards of Care, Reasonable Care, Recognition of Risk, Investment Advisers, Material Misstatements & Prohibited Transactions, Express Liabilities, Misleading Statements, Subject Matter Jurisdiction, Jurisdiction Over Actions, Estate, Gift & Trust Law, Trusts, Constructive Trusts, In Rem & Personal Jurisdiction, In Personam Actions, Jurisdiction, Initial Offerings, Civil Liability Considerations, Preservation of Remedies & Rights, Parties, Real Party in Interest, Securities Act Actions, Civil Liability, In Rem Actions, US Securities & Exchange Commission, Administrative Proceedings, Privileges, Self-Incrimination Privilege, Fraudulent Interstate Transactions, Contracts Law, Defenses, Usury, Criminal Law & Procedure, Fraud, Securities Fraud, Elements, Theft & Related Offenses, Larceny & Theft, Acts & Mental States, Mens Rea, Recklessness, Remedies, Injunctions, Permanent Injunctions, Knowledge, Judgment Interest, Prejudgment Interest, Postjudgment Interest, Postoffering & Secondary Distributions, Recordkeeping & Reporting Requirements