On September 27, 2010, Judge Means of the Northern District of Texas entered an agreed final judgments relating to the SEC’s complaint in SEC v. Jobe (pdf copy of the complaint here). The SEC’s complaint accused defendants (who are friends) of violating federal securities laws by insider trading. Defendants, according to the SEC, obtained insider information from an XTO Energy employee that Exxon Mobil would be acquiring XTO Energy, purchased XTO Energy securities, and, combined, earned over $500,000 in illicit gains.
Judge Means required the defendants, pursuant to their agreeement to settle the case, to disgorge, collectively, over $500,000 gained as a result of the conduct alleged in the SEC’s complaint.
Defendants were represented by Dan C. Guthrie, Jr., of the Law Office of Dan C Guthrie Jr., and Wayne M Secore, of Secore & Waller.