Law360, New York (August 5, 2011, 6:40 PM EDT) -- A mining company executive requested $5 million in damages Wednesday from the U.S. Securities and Exchange Commission, telling a Texas federal court that the agency had maliciously pursued a case against him over an allegedly forged document connected to a public stock sale.
Defendant John W. Petros filed a motion for summary judgment, claiming the SEC was intentionally cruel and caused damage by continuing the “false and frivolous” suit.
In January 2010, the SEC sued Tsukuda-America Inc. and Petros, the company's sole officer and director, for...
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