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Power Homes Unlimited Corp. vs. SEC, et al.

POWER HOMES UNLIMITED CORPORATION, Petitioner, versus SECURITIES AND EXCHANGE COMMISSION AND NOEL MANERO, Respondents.

G.R. No. 164182 | 2008-02-26

D E C I S I O N

PUNO, C.J.:

This petition for review seeks the reversal and setting aside of the July 31, 2003 Decision[1] of the Court of Appeals that affirmed the January 26, 2001 Cease and Desist Order (CDO)[2] of public respondent Securities and Exchange Commission (SEC) enjoining petitioner Power Homes Unlimited Corporation's (petitioner) officers, directors, agents, representatives and any and all persons claiming and acting under their authority, from further engaging in the sale, offer for sale or distribution of securities; and its June 18, 2004 Resolution[3] which denied petitioner's motion for reconsideration.

The facts:...