PALM DESERT, Calif., Oct. 23, 2021 /PRNewswire-PRWeb/ — NOVA OCULUS PARTNERS, LLC has reached a settlement with the Securities and Exchange Commission (SEC) that ends the SEC’s enforcement action against the company. The settlement (Case # 5:18-cv-00701-FLA-SP; U.S. District Court for the Central District of California) stipulates the company will not pay any monetary penalties and agrees only to an injunction not to violate securities laws. Moreover, the company and its officers neither admit nor deny having violated any securities laws.
For his part, founder and former manager Peter Pocklington has agreed to pay approximately $300,000, in addition to civil penalties. The company understands the SEC will distribute that $300,000 to everyone who invested in Nova Oculus between 2014 and May 2017.
Also, effectively immediately, Pocklington is resigning his position as manager of Nova Oculus Partners. Chief operating officer Walter O’Rourke will step in as manager. A seamless transition is expected.
Both O’Rourke and Pocklington are pleased with this resolution of the SEC action. “I’m happy to put this matter behind us,” said Pocklington, “and I’m thrilled this settlement directly benefits the company and its investors.”
ABOUT NOVA OCULUS
NOVA OCULUS is the name of the pioneering new medical device engineered and developed to treat the dry form of Age-Related Macular Degeneration—and for the company of innovative people that created it.
The Nova Oculus device holds the potential to revolutionize the treatment protocols for dry AMD and offer hope to millions of North Americans who are going blind without it. Dry AMD is an affliction without a cure. Yet independent assessments of a recent clinical investigative trial in Vancouver proved our microcurrent electro-therapy technology was successful in mitigating AMD’s symptoms in those patients treated with the device.
The Nova Oculus device has been certified as complying with the quality management standard set by the International Organization of Standardization (ISO) and the electrical safety standard set by the International Electrotechnical Commission (IEC). These certifications make possible future global regulatory approvals for Nova Oculus.
AGE-RELATED macular degeneration has no cure. It is the leading cause of blindness in North America. More than 14 million North Americans suffer from this affliction — a figure that is expected to double as baby boomers age.
For more information:
Walter O’Rourke, 647-204-3477
D. Hernandez, Nova Oculus Partners, LLC, +1 760-636-4562, [email protected]
Walter O’Rourke, Nova Oculus Partners, LLC, 647-204-3477, [email protected]
SOURCE Nova Oculus Partners, LLC