SEC Closes National Lampoon Stock Inflation Case

Law360, New York (June 3, 2011, 6:22 PM EDT) -- A Pennsylvania federal judge Friday signed off on a consent order ending the U.S. Securities and Exchange Commission's stock inflation case against National Lampoon Inc. and its convicted former CEO, who dodged civil penalties.

The agreement closes a suit the SEC launched in 2008 against National Lampoon — the company behind iconic comedies as “Animal House" and “Christmas Vacation” — and ex-CEO Daniel S. Laikin over kickbacks paid to two stock promoters to pump up company share prices.

"These consents resolve the SEC's enforcement action against...
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