SEC v. Lubin and David (2017)

Judgment entered

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In 2017 the SEC instituted proceedings against attorney David Lubin, alleging he lied in public filings to hide who owned the shares of a public company.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	34-81172
Date filed	2017-07-19
Date resolved	2017-07-19
Status	judgment
Asset class	equities
Venue	OTC
Criminal parallel	No
Defendants	David Lubin (individual)
Cited as charged or alleged	Exchange Act s.10(b) and Rule 10b-5 (statutes and rules cited in the document; not a finding that they were violated)
Techniques

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
Alleged gain: —

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

On July 19, 2017 the SEC instituted proceedings against David Lubin, a New York lawyer and former officer and director of Entertainment Art, Inc. The order alleges that from 2009 he concealed in ten filings that one acquaintance's entity owned all of the company's shares, not just the control block, and charges a violation of Exchange Act Section 10(b) and Rule 10b-5.

The order notes that more than 14 million of the shares were later sold in an unregistered distribution, but that is a consequence the SEC describes in a separate case, not a charge here. The record previously showed two defendants, 'Lubin' and 'David', from splitting one name; it now shows David Lubin, and carries no technique tag.

This library does not assign a technique tag to the matter, because no technique page in the current taxonomy describes the conduct the document records.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

Timeline

2017-07-19 Administrative proceeding instituted (102e)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Record added September 10, 2026. submit a correction.