United States Ninth Circuit

In a petition for review of the SEC's order sustaining a National Association of Securities Dealers disciplinary sanction against petitioners-securities salespersons for making false statements to clients in connection with the sale of promissory notes used to finance the conversion of mobile home parks to resident ownership, the petition is denied where the SEC considered all of the evidence bearing on petitioners' actual state of mind, including their extreme departure from ordinary standards of care, and found that they were consciously aware of the risk that their statements were false.

Appellate Information

• Decided 02/17/2010
• Published 02/17/2010

Judges

• Before HARRY PREGERSON, MICHAEL DALY HAWKINS and RAYMOND C. FISHER, Circuit Judges.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Charles F. Goria, Goria, Weber & Jarvis, San Diego, CA, for the petitioners.


• For Appellees:
  
• David M. Becker, Mark D. Cahn, Jacob H. Stillman, Randall W. Quinn, William K. Shirey, Securities and Exchange Commission, Washington, D.C., for the respondent.