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Litigation Release No. 20951 / March 13, 2009

Securities and Exchange Commission v. Sunwest Management, Inc., et al., United States District Court for the District of Oregon, Civil Action No. CV 09-6056 HO

On March 10, 2009, United States District Judge Michael R. Hogan entered a preliminary injunction against Defendants Sunwest Management, Inc. ("Sunwest"), Canyon Creek Development, Inc. ("CCD"), Canyon Creek Financial, LLC ("CCF"), and Jon M. Harder ("Preliminary Injunction"), in which the Court temporarily restrained and enjoined future violations by Sunwest, CCD, CCF and Harder of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and rule 10b-5 promulgated thereunder. The Court appointed Michael Grassmueck to act as a receiver over Sunwest, CCD, CCF, and several other entities in order to pursue claims against third parties and to protect assets from dissipation. The Court also enjoined creditors and claimants from filing lawsuits, liens or encumbrances or bankruptcy cases against any entity under receivership.

Related Litigation Release No. 20920



Modified: 03/13/2009