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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MARYLAND : SECURITIES AND EXCHANGE COMMISSION v. : : Civil Action No. DKC 2003-2768 : JOHN J. LAWBAUGH : MEMORANDUM OPINION Presently pending and ready for resolution is the motion of Plaintiff Securities and Exchange Commission ("the SEC") for entry of default judgment against Defendant John J. Lawbaugh1 pursuant to Fed.R.Civ.P. 55(b)(2). The issues are fully briefed

and the court now rules pursuant to Local Rule 105.6, no hearing being deemed necessary. grants Plaintiff's For the reasons that follow, the court and orders permanent injunctive

motion

relief, disgorgement, prejudgment interest, and civil penalties. I. Background The SEC filed the complaint in this matter on September 29, 2003, alleging securities fraud in violation of section 17(a) of the Securities Act of 1933 ("Securities Act"), 15 U.S.C.

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Maryland Law