SEC Pump-And-Dump Suit Against Atty Lives On

Law360, New York (November 30, 2010, 3:05 PM EST) -- A federal judge has allowed a U.S. Securities and Exchange Commission suit accusing New York securities attorney Stephen A. Czarnik of aiding a $20 million pump-and-dump scheme to move forward despite the lawyer's argument that the case is too flimsy.

Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York denied most of Czarnik's motion to dismiss Monday. The judge did toss several allegations against the attorney, finding that the SEC failed to make sufficient allegations relating to several instances...
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