Defendant Name:
Ability Computer & Software Industries Ltd.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Ability Inc.
SIC Code:
9999
CUSIP:
G8789K12
Initial Case Details
Legal Case Name
SEC v. Anatoly Hurgin, Alexander Aurovsky, Ability Computer & Software Industries Ltd, and Ability Inc.
First Document Date
18-Jun-2019
Initial Filing Format
Civil Proceeding
Case Number
19-cv-05705
Allegation Type
Issuer Reporting and Disclosure
Federal District Court
New York, Southern District of New York
Violations Alleged
•
Sec 17(a) (Not specified)
Resolutions
First Resolution Date
10-Dec-2019
Headline Total Penalty and Disgorgement
$25,472,463
Related Documents:
Complaint
The SEC stated: "This action involves violations of the antifraud and proxy solicitation provisions of the Securities Act of 1933 ("Securities Act") and the Securities Exchange Act of 1934 ("Exchange Act") by Hurgin and Aurovsky, and the Israeli company they controlled, Ability, in connection with Ability's December 2015 merger with Cambridge Capital Acquisition Corporation ("Cambridge"), a U.S. publicly-traded special purpose acquisition company."
SEC Charges Intelligence Communications Company and Top Executives with Defrauding Merger Investors
The Commission stated: "The SEC on Tuesday charged Ability Inc., an Israel-based intelligence communications company, its wholly-owned subsidiary, and two of its top executives with defrauding shareholders of a Florida-based special purpose acquisition company, or "SPAC," a company formed to raise capital for a merger or acquisition within a set timeframe."
2019-103
20-Jun-2019
Press Release--Civil Action
SEC Charges Intelligence Communications Company and Top Executives With Defrauding Merger Investors
The Commission stated: "The SEC has charged Ability Inc., an Israel-based intelligence communications company, its wholly-owned subsidiary, and two of its top executives with defrauding shareholders of a Florida-based special purpose acquisition company (SPAC), a company formed to raise capital for a merger or acquisition within a set timeframe."
Judgment as to Defendant Ability Computer & Software Industries Ltd.
On December 10, 2019, the Court entered a final judgement as to defendant Ability Computer & Software Industries Ltd. The Court stated that Defendant "consented to the Court's jurisdiction over Defendant . . .; consented to the entry of this Judgement without admitting or denying the allegations of the Complaint . . .; waived findings of fact and conclusions of law; and waived any right to appeal from this Judgment".
Final Judgment as to Defendants Ability Inc. and Ability Computer & Software Industries Ltd.
On April 24, 2023, the Court issued a final judgment against Ability Inc. and Ability Computer & Software Industries Ltd., stating: " Defendants
Ability Inc. and Ability Computer & Software Industries Ltd. (“Defendants” or “Ability”) having
entered a general appearance; consented to the Court’s jurisdiction over Defendants and the
subject matter of this action; consented to entry of this Judgment without admitting or denying
the allegations of the Complaint (except as to jurisdiction and except as otherwise provided
herein in paragraph VII); waived findings of fact and conclusions of law; and waived any right to
appeal from this Judgment."
Other Defendants in Action:
