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SEC Dismissal of Certain Charges in Jackson/Ruehlen Action

SEC Dismissal of Certain Charges in Jackson/Ruehlen Action

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Published by Mike Koehler
SEC Dismissal of Certain Charges in Jackson/Ruehlen Action
SEC Dismissal of Certain Charges in Jackson/Ruehlen Action

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Categories:Types, Legal forms
Published by: Mike Koehler on Mar 27, 2014
Copyright:Traditional Copyright: All rights reserved

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05/30/2014

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UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF TEXASHOUSTON DIVISION
)SECURITIES AND EXCHANGE)COMMISSION,))Plaintiff,) Case No. 4:12-cv-00563)v.))MARK A. JACKSON and )JAMES J. RUEHLEN, ))Defendants.))
UNOPPOSED MOTION FOR PARTIAL VOLUNTARY DISMISSALWITH PREJUDICE
1.Pursuant to Rule 41(a)(2)of the Federal Rules of Civil Procedure, Plaintiff, the United States Securities and Exchange Commission (the “SEC”), hereby moves for leave to voluntarily dismiss with prejudice portions of certain claims alleged in the Second Amended Complaint (the “SAC”) (Dkt. No. 106)in the above-captioned matter, as set forth herein. 2.To narrow this case and streamline the presentation of evidence to the jury, the SEChereby moves for leave to voluntarily dismiss with prejudice all portions of its claims, as set forth in the SAC, predicated upon Noble Corporation’s violation of Exchange Act Section 13(b)(2)(B), which requires issuers to devise and maintain adequate internal controls.Specifically, the SEC hereby seeks leave to voluntarily dismiss with prejudice:a.Theportion of the Third Claimofthe SAC alleging thatDefendant Mark Jackson (“Jackson”) and Defendant James Ruehlen (“Ruehlen”) aided and abettedNoble
Case 4:12-cv-00563 Document 134 Filed in TXSD on 03/25/14 Page 1 of 3
 
2Corporation’s violation ofExchange Act
1
Section 13(b)(2)(B).The portion of the Third Claimof the SAC alleging that Jackson and Ruehlenaided and abetted Noble Corporation’s violation of Exchange Act Section 13(b)(2)(A) is unaffected by this motion. b.The portion of Claim Four of the SAC alleging that Jackson and Ruehlen violated Exchange Section 13(b)(5) by knowingly failing to implement adequate internal controls. Unaffected by this motion are the portions of Claim Four of the SAC alleging that Jackson and Ruehlen violated Exchange Act 13(b)(5) by (i) knowingly circumventing Noble Corporation’s internal controls and (ii) knowingly falsifying any  book, record, or account described in Exchange Act Section 13(b)(2)(A), as prohibited under Exchange Act Rule 13b2-1.c.The portion of Claim Six of the SAC alleging that Jackson violated Exchange Act Rule 13a-14throughpersonal certificationsthatNoble Corporation devised and maintained adequate internal controls.Those portions of Claim Six of the SAC alleging that Jackson made false personal certifications as to any other matters are unaffected by this motion.d.The portion of Claim Seven of the SAC alleging that Jackson is liable as a control person for Ruehlen’s and Noble Corporation’s violation of Exchange Act Section 13(b)(2)(B). The portions of the Seventh Claim of the SAC alleging that Jackson is liable as a control person for Ruehlen’s and Noble Corporation’s violations of Exchange Act Section 30A and Exchange Act Section 13(b)(2)(A), are unaffected by this motion.
 
1
“Exchange Act” refers to Securities and Exchange Act of 1934.
Case 4:12-cv-00563 Document 134 Filed in TXSD on 03/25/14 Page 2 of 3

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