SEC Fraud Suit V. National Lampoon CEO Put On Pause

Law360, New York (July 14, 2011, 6:22 PM EDT) -- An Indiana federal judge on Thursday allowed prosecutors to put a U.S. Securities and Exchange Commission's lawsuit against the CEO of National Lampoon Inc. on hold in order to let criminal charges in a $230 million securities fraud case play out.

U.S. District Court Judge Jane Magnus-Sinson granted a motion by the U.S. Attorney for the Southern District of Indiana to stay the SEC's civil case, since allowing it to proceed to discovery could jeopardize prosecutors' criminal case against Timothy S. Durham and his co-defendants....
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