SEC Bars 'Opinion Mill' Attorneys For 5 Years

Law360, New York (August 24, 2009, 1:25 PM EDT) -- The U.S. Securities and Exchange Commission has suspended two attorneys — accused of being part of a "legal opinion mill" that issued bogus opinion letters to facilitate a pump-and-dump scheme by mobile device software marketer Mobile Ready Entertainment Corp. — from practicing before the commission for five years.

The SEC brought settled administrative proceedings against Albert J. Rasch Jr. Esq. and Kathleen R. Novinger on Friday, less than a month after the U.S. District Court for the Northern District of Georgia entered consent judgments against Rasch,...
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