S.E.C. v. COLLINS & AIRMAN CORP.

No. 07 Civ. 2419(SAS).

524 F.Supp.2d 477 (2007)

SECURITIES and EXCHANGE COMMISSION, Plaintiff, v. COLLINS & AIKMAN CORPORATION, David A. Stockman, J. Michael Stepp, Gerald E. Jones, David R. Cosgrove, Elkin B. McCallum, Paul C. Barnaba, John G. Galante, Christopher M. Williams, and Thomas V. Gougherty, Defendants.

United States District Court, S.D. New York.

December 21, 2007.


Attorney(s) appearing for the Case

Christopher R. Conte, Esq., J. David Fielder, Esq., John David Worland, Jr., Esq., Securities and Exchange Commission, Washington, DC, Robert B. Blackburn, Esq., Securities and Exchange Commission, Assoc. Regional Director, New York, NY, Mark Kreitman, Esq., H. Michael Semler, Esq., Securities and Exchange Commission, Washington, DC, for Plaintiff.

Howard M. Shapiro, Esq., Joseph Keith Brenner, Esq., Andrew B. Weissman, Esq., Wilmer Cutler Pickering Hale & Dorr, LLP, Washington, DC, for Defendant David A. Stockman.

Gandolfo Vincent DiBlasi, Esq., David Edward Swarts, Esq., Stacey Rubin Friedman, Esq., Sullivan and Cromwell, LLP, New York, NY, for Defendant J. Michael Stepp.

Jeffrey A. Simes, Esq., Laurie L. Levin, Esq., Richard Mark Strassberg, Esq., Goodwin Procter, LLP, New York, NY, for Defendant Elkin B. McCallum.

Carl Spencer Kravitz, Esq., Lenora Miles Rigby, Esq., Zuckerman Spaeder, LLP, Washington, DC, Adrienne Urrutia Wisenberg, Esq., Solomon Louis Wisenberg, Esq., Wisenberg & Wisenberg, PLLC, Washington, DC, Laura Elizabeth Neish, Esq., Zuckerman, Spaeder, Goldstein, Taylor & Kolker, LLP, New York, NY, for Defendant Paul C. Barnaba.

Michael Ross, Esq., Law Offices of Michael Ross, New York, NY, for Defendant Gerald E. Jones.

Ken Laves Hashimoto, Esq., Arnold & Porter; LLP, New York, NY, for Defendant David R. Cosgrove.

Michael Shapiro, Esq., Buchanan Ingersoll PC, New York, NY, for Defendant John G. Galante.

James Alfred Mitchell, Esq., Stillman, Friedman & Shechtman, P.C., New York, NY, for Defendants Collins & Aikman Corporation, Christopher M. Williams, and Thomas V. Gougherty.

Helen Virginia Cantwell, Assistant U.S. Attorney, New York, NY, for the United States.


OPINION AND ORDER

SHIRA A. SCHEINDLIN, District Judge.

I. INTRODUCTION

This action is brought by the Securities and Exchange Commission ("SEC") against the Collins & Aikman Corporation ("C & A" or the "Company") and David A. Stockman, J. Michael Stepp, David R. Cosgrove, Elkin B. McCallum, Paul C. Barnaba, John G. Galante, Gerald E. Jones, Christopher M. Williams, and Thomas V. Gougherty. The Complaint alleges that the...

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