NewOak Zaps Laser Weapons Maker Over Stock Offering

Law360, New York (December 15, 2011, 1:25 PM EST) -- In the latest skirmish in a nasty legal battle, NewOak Capital Markets LLC said Wednesday it had relied on false statements made by Applied Energetics Inc. when it agreed to help the laser-based weapons maker raise up to $20 million in a 2005 offering.

In a complaint filed in New York federal court, NewOak claimed Applied Energetics knowingly misrepresented its progress in developing technology to find and destroy improvised explosive devices when it approached the investment firm about engineering a private placement of company stock in...
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