Date: 04-22-2002

Case Style: Securities and Exchange Commission v. Robert M. Cochran

Case Number: 95-CV-1477

Judge: Wayne E. Alley

Court: United States District Court for the Western District of Oklahoma

Plaintiff's Attorney: Stephen J. Korotash, Securities & Exchange Commission, Fort Worth, Texas and Kevin J. Harnisch and Robert Giallombardo, United States Securities & Exchange Commission, Washington, D.C.

Defendant's Attorney: Russell A. Cook, Drew Neville, Jr., and Bernard J. Rothbaum, Jr. of Hartzog Conger Cason & Neville, Oklahoma City, Oklahoma

Description: Securities fraud claims relating to bond sales of Oklahoma bonds used to raise money for large projects such as turnpike construction and hospital additions. The SEC also claimed that Cochran cheated his customers, including the Oklahoma Turnpike Authority. It claimed that he took hidden fees on the deals from banks and investment brokers that jeopardized the bonds' tax-exempt status and put customers at risk with the Internal Revenue Service. The government sought more than $1 million in damages. Cochran, age 54, is now a financial consultant for a construction-related company in Florida. He was once he highest-paid executive for Stifel, Nicolaus & Co. The made more than $2 million a year before he was fired in 1994.

Outcome: Settled for $220,000.00.

Plaintiff's Experts: Unknown

Defendant's Experts: Unknown

Comments: None