Ex-Striker Execs Told To Cough Up $7M In SEC Fraud Suit

Law360, New York (August 24, 2011, 3:03 PM EDT) -- A Texas federal judge ruled Monday that two former Striker Petroleum LLC executives should pay nearly $6.9 million combined in disgorgements and penalties for allegedly inflating the company's value and swindling investors out of $57 million.

Judge Sidney A. Fitzwater issued a final judgment against ex-Striker President Mark Roberts and former Vice President Christopher Pippin, granting a July request by the U.S. Securities and Exchange Commission to hit the men with stiffest monetary fines possible by law, on top of having to give back illegal profits...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Striker Petroleum, LLC et al


Case Number

3:09-cv-02304

Court

Texas Northern

Nature of Suit

Other Statutes: Securities/Commodities/Exchange

Judge

Sidney A Fitzwater

Date Filed

December 3, 2009

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.