SEC v. William Andrew Stack, Esq. (undisclosed control blocks, 2021)

Judgment entered

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In January 2021 the SEC charged attorney William Andrew Stack, nominal CEO of Preston Corp., with misleading press releases and an unregistered stock distribution. On 10 March 2023 the Western District of Texas entered a final judgment with injunctions, three five-year bars, US$333,110 in disgorgement, US$104,993.21 in interest and a US$333,110 penalty.

The record

What was ordered

Civil penalty

$333k

Disgorgement

$333k

Prejudgment interest

$105k

Total relief

$771k

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

the Securities and Exchange Commission announced this matter on January 21, 2021 as release LR-25013. The respondents named are William Andrew Stack, Esq. (1 individual, 0 entities).

This library tags the matter as undisclosed control blocks and unregistered distributions, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The conduct is recorded against equities.

Non-monetary relief recorded: conduct-based injunction, officer-and-director bar, penny stock bar.

Outcome. SEC release LR-25682 reports that on 10 March 2023 the court entered a final judgment against Stack. It enjoins him from violating the registration and anti-fraud provisions, imposes five-year officer-and-director and penny stock bars and a five-year bar on legal work relating to Regulation D and similar exemptions, and orders disgorgement, interest and a civil penalty. The judgment itself, which the SEC links, states US$333,110 in disgorgement, US$104,993.21 in interest and a US$333,110 penalty; the release's text misprints the penalty as dollars-million.

The release does not say whether Stack consented. The SEC's description of the Preston Corp. conduct remains the allegation on which the judgment was entered.

What technique is this, and how does it work?

This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Undisclosed control blocks — see how it works, what statute it engages, and every other action tagged the same way.
• Unregistered distributions — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2021-01-21 Litigation release published
2. 2023-03-10 Final judgment entered (SEC LR-25682, published 31 March 2023)

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 litigation release
• SEC litigation release LR-25682 (final judgment)
• Final judgment, William Andrew Stack

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.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.