2024-03-20 sec-litreleases litigation_release 65 KB 1,733 chars

SEC v. Bernard Findley; and Halitron, Inc., No. LR-25951, District of Connecticut (Mar. 20, 2024) — Press Release

raw: Bernard Findley and Halitron, Inc.

Bernard Findley and Halitron, Inc., No. 3:20-cv-0397 (Mar. 20, 2024)

Caption
Securities and Exchange Commission v. Bernard Findley and Halitron, Inc.
Source PDF JSON
summary

Halitron, Inc. and CEO Bernard Findley were found liable for issuing false press releases to inflate stock prices and were ordered to pay over $441,000 in penalties.

paragraph

A federal court entered final judgments against Halitron, Inc. and CEO Bernard Findley for fraudulently issuing misleading press releases to attract financiers. The defendants must jointly and severally pay $191,024.16 in disgorgement and prejudgment interest, alongside a $250,000 civil penalty against Findley. Findley is also barred from serving as an officer or director of any SEC-reporting company and from participating in penny stock offerings for four years.

narrative

A federal district court in Connecticut entered final judgments against Halitron, Inc. and its CEO, Bernard Findley, following a jury verdict finding them liable for securities fraud. The defendants issued false and misleading press releases to artificially inflate Halitron’s stock value to attract financiers in exchange for discounted shares. The court ordered the defendants to pay a total of over $441,000, which includes $141,000 in disgorgement and $50,024.16 in prejudgment interest. Additionally, Findley was ordered to pay a $250,000 civil penalty. The judgment permanently enjoins the defendants from violating federal securities laws. Furthermore, Findley is barred from serving as an officer or director of any SEC-reporting company and from participating in penny stock offerings for a period of four years.

Enriched metadata

Scheme
pump-and-dump (97%)
Court
District of Connecticut
Case No.
3:20-cv-0397
Settlement
$441,000
Disgorgement
$191,024
Civil penalty
$250,000
Entity
Halitron, Inc. and Bernard Findley
Classified pump-and-dump(confidence 97%). EDGAR detection: forms S-8/S-1/424B/8-K· recall 69% / precision 12%. detection rule →
Statutes
Section 17(a) of the Securities ActSection 10(b) of the Securities Exchange ActRule 10b-5
Parties
Securities and Exchange CommissionBernard FindleyHalitron, Inc.
Keywords
halitronfindleybernard findleyfindley halitronsecurities exchangehalitron findleyjudgmentsbernardincsecuritiesexchangestockexchange commissionjudgments againstpenny stock

Exhibits & Attached Documents (2)

Extracted insights

Dollar amounts 5
  • $441K $441,000 $100K–$1M
  • $250K $250,000 $100K–$1M
  • $191K $191,024 $100K–$1M
  • $141K $141,000 $100K–$1M
  • $50K $50,024 $10K–$100K
Entities 3
  • court federal district court in connecticut
  • agency sec's litigation
  • agency Securities and Exchange Commission
Triples 8
  • Securities And Exchange Commission Obtains Judgments Against Microcap Company and its Ceo Following Trial
  • Federal District Court In Connecticut Entered Final Judgments Against Connecticut-based Penny Stock Company Halitron, Inc. And Its Ceo, Bernard Findley
  • Judgments Require The Defendants To Variously Pay a Total Of Over $441,000
  • Judgments Permanently Enjoin Halitron And Findley From Violations Of Section 17(a) Of The Securities Act Of 1933 And Section 10(b) Of The Securities Exchange Act Of 1934 And Rule 10b-5 Thereunder
  • Court Ordered Halitron And Findley To Jointly And Severally Pay $141,000 In Disgorgement Of Ill-gotten Gains, Along With $50,024.16 In Prejudgment Interest
  • Court Barred Findley From Serving As An Officer Or Director Of Any Sec-reporting Company And From Participating In The Offering Of a Penny Stock For a Period Of Four Years
  • Court Ordered Him To Pay a $250,000 Civil Penalty
  • Sec's Litigation Was Handled By Alfred Day, Susan Cooke, Xinyue Angela Lin, And Alyssa DiPaolo Of The Boston Regional Office
PDF (from attached: complaint)
Plaintiff, the United States Securities and Exchange Commission (the “Commission” or · Source
Text layers
Extracted body text (1,733c) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 25951 / March 20, 2024 Securities and Exchange Commission v. Bernard Findley and Halitron, Inc., No. 3:20-cv-0397 (SRU) (D. Conn. filed March 25, 2020) SEC Obtains Judgments Against Microcap Company and its CEO Following Trial On March 20, 2024, a federal district court in Connecticut entered final judgments against Connecticut-based penny stock company Halitron, Inc. and its CEO, Bernard Findley. The judgments follow a trial and a January 17, 2023 jury verdict finding Halitron and Findley liable for fraudulently issuing false and misleading press releases in an effort to prop up the value of Halitron’s stock and thereby attract financiers who provided funding to Halitron in exchange for discounted shares of Halitron stock. Among other things, the judgments require the defendants to variously pay a total of over $441,000. The judgments permanently enjoin Halitron and Findley from violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Court also ordered Halitron and Findley to jointly and severally pay $141,000 in disgorgement of ill-gotten gains, along with $50,024.16 in prejudgment interest, for a total disgorgement and prejudgment interest amount of $191,024.16. In addition, the Court barred Findley from serving as an officer or director of any SEC-reporting company and from participating in the offering of a penny stock for a period of four years and ordered him to pay a $250,000 civil penalty. The SEC's litigation was handled by Alfred Day, Susan Cooke, Xinyue Angela Lin, and Alyssa DiPaolo of the Boston Regional Office. Final Judgment SEC Complaint
OCR text (1,733c · html-text · 99% conf) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 25951 / March 20, 2024 Securities and Exchange Commission v. Bernard Findley and Halitron, Inc., No. 3:20-cv-0397 (SRU) (D. Conn. filed March 25, 2020) SEC Obtains Judgments Against Microcap Company and its CEO Following Trial On March 20, 2024, a federal district court in Connecticut entered final judgments against Connecticut-based penny stock company Halitron, Inc. and its CEO, Bernard Findley. The judgments follow a trial and a January 17, 2023 jury verdict finding Halitron and Findley liable for fraudulently issuing false and misleading press releases in an effort to prop up the value of Halitron’s stock and thereby attract financiers who provided funding to Halitron in exchange for discounted shares of Halitron stock. Among other things, the judgments require the defendants to variously pay a total of over $441,000. The judgments permanently enjoin Halitron and Findley from violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Court also ordered Halitron and Findley to jointly and severally pay $141,000 in disgorgement of ill-gotten gains, along with $50,024.16 in prejudgment interest, for a total disgorgement and prejudgment interest amount of $191,024.16. In addition, the Court barred Findley from serving as an officer or director of any SEC-reporting company and from participating in the offering of a penny stock for a period of four years and ordered him to pay a $250,000 civil penalty. The SEC's litigation was handled by Alfred Day, Susan Cooke, Xinyue Angela Lin, and Alyssa DiPaolo of the Boston Regional Office. Final Judgment SEC Complaint

Related documents (2)