On April 8, 2009, the U.S. District Court for the District of Massachusetts entered a final judgment on behalf of the SEC ordering United Kingdom citizen Glenn Manterfield, a principal of the Boston-based investment adviser Lydia Capital Management, to pay $2.35 million in disgorgement, almost $426,000 in pre-judgment interest and a penalty of $130,000 for securities fraud.  The order also permanently enjoins Manterfield from further violations of any of the federal securities laws.  We discuss the SEC action in the U.S., a related action in the U.K. and the court’s final judgment.