Convicted Ex-Lampoon CEO Tries to Toss Investor Suit

Law360, New York (June 24, 2011, 4:10 PM EDT) -- The convicted former CEO of National Lampoon Inc. asked a California federal court on Thursday to dismiss a proposed shareholder class action claiming that the exposure of his pump-and-dump stock scheme cost investors millions of dollars.

Daniel S. Laikin claims the plaintiffs' case overly relies on allegations made in the U.S. Securities and Exchange Commission's recently settled case against him and his former company, as well as the U.S. Department of Justice's securities fraud case that landed him a 45-month prison sentence last September.

The defendant...
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