SEC's $2.75M Win Upheld In Platforms Fraud Case

Law360, New York (July 29, 2010, 6:42 PM EDT) -- A federal appeals court has affirmed a win for the U.S. Securities and Exchange Commission in its suit seeking $2.75 million in disgorgement and interest from the former chairman and CEO of Platforms Wireless International Corp.

The U.S. Court of Appeals for the Ninth Circuit on Tuesday affirmed the disgorgement order, as well as partial summary judgment that Platforms and its former CEO William Martin sold unregistered securities to the public and issued a false press release in violation of federal securities law.

In 2004, the...
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