Defendant Name:
Ability Computer & Software Industries Ltd.
Defendant Type:
Subsidiary of Public Company
Document Reference:
court_doc197_19-cv-05705
Document Details
Legal Case Name
SEC v. Anatoly Hurgin, Alexander Aurovsky, Ability Computer & Software Industries Ltd, and Ability Inc.
Document Name
Final Judgment as to Defendants Ability Inc. and Ability Computer & Software Industries Ltd.
Document Date
24-Apr-2023
Document Format
Civil Proceeding
Case Number
19-cv-05705
Federal District Court
New York, Southern District of New York
Federal District Judge
Mary Kay Vyskocil
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Enjoinment
The Court ordered: "obligation of $25,472,462.54 shall be deemed satisfied by Defendants’ distribution of $6,500,000.00 (USD) to the Commission from the funds held in the put escrow account at the Hermetic trust services 1939 (Ltd.) (the “Put Escrow Account”). Defendants’ distribution of $6,500,000.00 shall be executed by the Defendants’ court-appointed trustee in the liquidation proceedings known as In re Ability Inc., insolvency case number 39303-07-22 (the “Israel Liquidation”)."
Monetary Penalties:
Disgorgement
Individual:
Shared:
$18,995,000.00
Shared with: Ability Inc.
Pre-Judgment Interest
Individual:
Shared:
$6,477,462.54
Shared with: Ability Inc.
Total Penalty
Individual:
Shared:
$25,472,462.54
Shared with: Ability Inc.
Other Defendants in Action: