Ex-VoIP Chief Nears Deal In Securities Fraud Case

Law360, New York (February 4, 2010, 2:45 PM EST) -- The U.S. Securities and Exchange Commission will have 90 days to get agency approval of a settlement in its securities fraud case against the former president and CEO of Internet telecommunications company VoIP Inc.

Magistrate Judge Edwin G. Torres of the U.S. District Court for the Southern District of Florida granted the stay Wednesday, soon after the SEC filed a motion stating that it had agreed to a “proposed resolution” of its litigation over revenue inflation against Steven M. Ivester, VoIP's former chief.

“We struck an...
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