SEC Triumphs In Suit Over Fake Offers For Kodak, AMR

Law360, New York (January 3, 2012, 3:12 PM EST) -- The U.S. Securities and Exchange Commission on Friday won its claims against a Florida businessman who allegedly committed securities fraud by making bogus multibillion-dollar offers to buy Eastman Kodak Co. and AMR Corp., the parent company of American Airlines Inc.

U.S. District Judge Paul C. Huck granted the SEC's motion for summary judgment. He ruled that Allen Weintraub had not disputed the SEC's statement of facts, which claimed Weintraub and his company Sterling Global had sent letters offering to buy the companies though he had no...
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