Fake Kodak, AMR Offers Warrant 'Significant' Fine: SEC

Law360, New York (December 9, 2011, 9:42 PM EST) -- The U.S. Securities and Exchange Commission asked Thursday that “significant” fines be imposed on a Florida businessman accused of making bogus multibillion-dollar offers to buy Eastman Kodak Co. and American Airlines Inc.'s parent company, AMR Corp.

The SEC filed a motion for summary judgment in its case against Allen Weintraub and filed a memorandum calling for an injunction and monetary penalties over Weintraub's alleged violations of securities laws.

In May, the SEC filed its suit against Weintraub over tender offer letters for “all outstanding stock” in...
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