Universal Express Appeals $10M Verdict

Law360, New York (June 6, 2007, 12:00 AM EDT) -- A transportation company ordered to pay $22 million for illegally distributing hundreds of millions of shares of stock has challenged the judge's ruling, filing a formal appeal to the final judgment.

Universal Express lodged its appeal on Friday in the U.S. Court of Appeals for the Second Circuit, asking the court to reconsider a decision reached in February in a case brought by the U.S. Securities and Exchange Commission.

On Feb. 27, Judge Gerard Lynch of the U.S. District Court for the Southern District of New...
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