Former Pegasus CEO Settles In $30M Fraud Suit

Law360, New York (July 26, 2010, 4:28 PM EDT) -- The former CEO of Pegasus Wireless Corp. has struck a deal in a U.S. Securities and Exchange Commission suit accusing him of swindling investors out of millions of dollars by illegally selling shares in the networking technology company.

Judge Jeffrey S. White of the U.S. District Court for the Northern District of California signed off Friday on Jasper Knabb's consent agreement to a permanent injunction from violating securities laws.

Knabb did not admit or deny the allegations as part of the settlement.

The agreement calls for...
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