Natural Blue SEC Administrative Proceeding

This case involved Securities and Exchange Commission (SEC) allegations that James Cohen and Joseph Corazzi acted as de facto officers of Natural Blue Resources, Inc. In doing so they were alleged to have orchestrated a fraudulent scheme to control the company and conceal details of their past disciplinary histories. Compass Lexecon Affiliate Professor Robert Daines was retained by Mayeti Gametchu of the SEC to explain typical public company structures and processes and evaluate the actions of the Defendants from a corporate governance perspective. Professor Daines submitted direct testimony and appeared for cross examination at the trial. The administrative judge ruled for the SEC, granting their request for a lifetime bar, a cease-anddesist order, and imposing a financial penalty on Cohen and Corazzi. Professor Daines was supported by Jessica Mandel, Avisheh Mohsenin and others in Compass Lexecon’s Chicago office.