Defendant Name: Global Entertainment Corporation

Defendant Type: Public Company

Document Reference: 2013-235

Document Details

Legal Case Name In the Matter of Piper Jaffray & Co. and Jane Towery
Document Name SEC Charges Municipal Issuer in Washington's Wenatchee Valley Region for Misleading Investors
Document Date 05-Nov-2013
Document Format Administrative Proceeding
File Number 3-15602
Allegation Type Municipal Securities & Public Pensions
Document Summary On November 5, 2013, the SEC announced that it charged the Greater Wenatchee Regional Events Center Public Facilities District, a municipal issuer in the state of Washington's Wenatchee Valley region, with misleading investors in a bond offering that financed the construction of a regional events center and ice hockey arena. The SEC's settled administrative proceedings also name the developer Global Entertainment Corporation and its then-president and CEO Richard Kozuback, the underwriter Piper Jaffray & Co. and its lead investment banker Jane Towery, and Allison Williams, a senior staff member for the Greater Wenatchee Regional Events Center Public Facilities District who certified the accuracy of the official statement. In settling the SEC's charges, Global Entertainment and Kozuback each agreed to pay penalties of $10,000.

Related Documents:

33-9471 05-Nov-2013 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On December 12, 2013, the SEC filed settled administrative proceedings against Global Entertainment Corporation. According to the SEC: "In 2011, the Greater Wenatchee Regional Events Center Public Facilities District ('District') defaulted on $41.77 million in Bond Anticipation Notes ('BANs') it had issued in 2008 to finance a multi-use arena and ice hockey rink (the 'Regional Center') located in the City of Wenatchee, Washington (the 'City'). The Official Statement for the BANs was materially false and misleading." Global Entertainment Corporation was hired by the District to develop and operate the Regional Center.

Related Actions:

In the Matter of Piper Jaffray & Co. and Jane Towery
Piper Jaffray & Co.
Jane Towery