b'12. File Your Securities Noticesnize the offering, it is possible that other violations could be found. This subjects the issuer to further liability and puts the entire investment at risk. If other violations are found in the course of an investigation into a failed filing, the SEC or a state regulator could file an injunction freezing all of the assets of the company and the issuer; issue a cease-and-desist order; order rescission where all investors must be paid back within 30 days; order disgorgement; or fine the issuer. In the most egregious cases the issuer may become subject to criminal prosecution. There are lots of violators of securities laws who are in jail, so the penalties are real and can be harsh. Dont be caught unaware or be too cheap to hire a competent securi-ties attorney! Saving a few dollars by doing your own offering or hiring a non-securities attorney to draft your documents and getting it wrong is a disservice to investors and could be the source of many sleepless nights for the issuer. Securities practice is not a do-it-yourself area of the law for many of the reasons already discussed in this book. An issuer will do a disservice to its investors and put the entire investment, and itself, at risk by failingtohireanexperiencedcorporatesecurities attorney to draft its offering documents and file the required securities notices. 145'