Platforms Wireless, CEO Still On Hook In Fraud Suit

Law360, New York (April 3, 2008, 12:00 AM EDT) -- A court vacated summary judgments on Thursday that Platforms Wireless International Corp. directors made false and misleading statements in two press releases in order to artificially boost stock prices, but let stand a summary judgment that it made such statements in a third press release.

Judge Jeffrey T. Miller of the U.S. District Court for the Southern District of California, who is presiding over the SEC enforcement lawsuit, ruled that Platforms and William C. Martin, Platforms’ chairman of the board and CEO, did not necessarily know...
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