Without admitting or denying the allegations in the SEC’s complaint, Fox and Wayne Energy have agreed to a settlement that permanently enjoins them from future violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b 5 thereunder, and requires them to pay disgorgement and prejudgment interest and civil penalties in amounts to be determined by the court upon the SEC’s motion. In addition, Fox has agreed to a preliminary conduct based injunction prohibiting him or entities he controls, including Wayne Energy, from issuing or selling securities. The settlement is subject to court approval..
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