BOCA RATON, Fla., Aug. 30, 2010 (GLOBE NEWSWIRE) -- The Mattera Reserve, Inc. and John Mattera, its Chief Executive Officer, today announced that Mr. Mattera has reached a settlement with the U.S. Securities and Exchange Commission (SEC) resolving a previously disclosed SEC complaint against Mr. Mattera and others.
Mr. Mattera stated: "I am pleased to have resolved this matter with the SEC and look forward to identifying and pursuing attractive business opportunities consistent with the provisions of the SEC settlement."
In August, 2010 the SEC agreed to the settlement with John A. Mattera, the Mattera Reserve's chairman and CEO. Mr. Mattera, without admitting or denying the allegations in the SEC's complaint, agreed to the entry of a final judgment that permanently enjoins him from violations of Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934 and imposes a penny stock bar. In addition, the SEC imposed a civil monetary penalty of $70,000 and disgorgement of $70,000 plus interest of $8,799.94. The settlement does not otherwise restrict Mr. Mattera from serving as an officer or director of a public company and or broker dealer. The Mattera Reserve was not a party to the SEC complaint.
About The Mattera Reserve
The Mattera Reserve is a financial institution primarily engaged in offering financial services and investment directly into private and public corporations.
The Mattera Reserve uses its own capital for investments allowing for substantial flexibility to choose when, where and why we want to invest and allows us to execute transactions in a timely manner for all parties.
For more information, visit www.matterareserve.com.