Ex-Pegasus CFO Settles SEC $30M Fraud Suit

Law360, New York (September 29, 2010, 2:53 PM EDT) -- The former chief financial officer 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 Tuesday on Stephen Durland's consent agreement to a permanent injunction from violating securities laws. Durland did not admit or deny the allegations as part of the settlement.

Durland agreed...
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