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Not Funny - SEC Sues National Lampoon, Inc.

By Mark H. Astarita, Esq.

From the Commission's press release:The Securities and Exchange Commission announced that today it charged seven individuals and two corporations with engaging in three separate fraudulent schemes to manipulate the market for publicly traded securities through the payment of prearranged kickbacks. The defendants include National Lampoon, Inc. and its CEO, Daniel S. Laikin, as well as stock promoters, a consultant, and an officer of another company. The United States Attorney for the Eastern District of Pennsylvania today separately announced criminal charges involving the same conduct.The Commission's actions, filed in federal district court in Philadelphia, allege that, in each case, individuals who controlled the stock of a public company arranged with corrupt promoters and others to generate purchases of the company's stock in exchange for cash kickbacks...continue to full post

Full post as published by SECLaw.com on December 15, 2008 (boomark / email).