SEC Drops Case Against 2nd Smart Online Exec

Law360, New York (December 3, 2010, 1:26 PM EST) -- The U.S. Securities and Exchange Commission has dropped its case against a second Smart Online Inc. executive because he has already been sentenced to prison on federal charges of manipulating the Internet software developer's stock through bribery and other illegal means.

Judge Leonard B. Sand of the U.S. District Court for the Southern District of New York signed off Thursday on the SEC's request, which was submitted in conjunction with Reza Eric Nouri's counsel.

Nouri was sentenced in May to 18 months in prison for his...
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