Point Blank CEO Hit With Lawsuit Over SEC Deal

Law360, New York (March 24, 2011, 7:25 PM EDT) -- The brother of the former head of bankrupt body armor firm Point Blank Solutions Inc. filed a lawsuit Wednesday in New York state court against the company’s acting chief executive, challenging a plan to deregister the company.

The complaint filed by Jeffrey R. Brooks in the Supreme Court for the State of New York, County of New York, takes issue with plans to deregister the company as an indirect condition of a settlement with the U.S. Securities and Exchange Commission of accounting fraud accusations.

An accounting...
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