USSE Dodges Sanctions In SEC Pump-And-Dump Suit

By Christopher Norton

Law360, New York (August 19, 2010, 2:39 PM ET) -- A federal judge has refused to grant sanctions against the founder of U.S. Sustainable Energy Corp. in the U.S. Securities and Exchange Commission’s case accusing USSE and the founder of perpetrating a pump-and-dump scheme.

Magistrate Judge John M. Roper of the U.S. District Court for the Southern District of Mississippi on Wednesday greenlighted the SEC’s motion to compel John H. Rivera to respond to all discovery by Aug. 26 but declined to award any sanctions against the company.

Judge Roper left the door open to renew...
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