Woodbridge has agreed to settle the liability portion of the SEC’s charges without admitting or denying the allegations. Part of the Woodbridge settlement deal involved reaching a resolution with the SEC and creditors regarding the ongoing control and management of Woodbridge.
In its latest actions, the SEC filed charges seeking court-ordered injunctions, return of allegedly ill-gotten gains with interest and financial penalties against the Kornfelds, Costa, Klager and their companies.
Similar to Woodbridge, Robbins and her company, Knowles Systems Inc., agreed to settle the SEC’s charges in a separate action. Robbins agreed to return more than $1 million of allegedly ill-gotten gains plus interest. Robbins also agreed to pay a $100,000 civil penalty and to accept an industry and penny stock bar.
