Court Issues Final Judgment Enforcing Prior Order of the Commission Against Rodney R. Schoemann
Judge Mary Ann Vial Lemmon of the United States District Court for the Eastern District of Louisiana has ordered a writ of mandamus commanding Rodney R. Schoemann to fully comply with a prior Order of the US SEC entered against him.
Specifically, the District Court ordered Schoemann to pay $967,901 in disgorgement, and to pay prejudgment interest owed on that amount to date in the amount of $472,850.89.
The final judgment concluded that Schoemann failed to comply with the terms of a final order of the SEC issued in In the Matter of Thomas J. Dudchik and Rodney R. Schoemann, Administrative Proceeding File No. 3-12943.
The SEC’s earlier order had found Schoemann in violation of the registration provisions of the federal securities laws in connection with his sales of stock in Stinger Systems, Inc. in November 2004, had ordered him to cease and desist from further violations of Section 5 of the Securities Act, and had ordered him to pay $967,901 in disgorgement and prejudgment interest thereon.
As of the filing of the action in federal court to enforce the earlier order of the SEC, Schoemann had not paid any portion of the amount previously ordered by the SEC. Schoemann consented to the entry of the instant judgment against him in district court, without admitting or denying the allegations of the SEC’s complaint.