CellCyte CEO Fraud Claims Can Move Forward

Law360, New York (April 29, 2010, 2:53 PM EDT) -- CellCyte Genetics Corp.'s former CEO has lost his bid to throw out U.S. Securities and Exchange Commission claims related to allegedly fraudulent statements that inflated the company's stock price, but the judge has ordered the agency to get more specific about its claims.

Although Judge Ricardo S. Martinez of the U.S. District Court for the Western District of Washington largely rejected Gary Reys' arguments challenging the SEC's claims against him, he agreed with Reys on Wednesday that the agency's allegations regarding the statements were too vague....
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