Ex-SEC Lawyer, 5 Others Sold Unregistered Stocks: Judge

Law360, New York (January 26, 2012, 4:08 PM EST) -- A Texas federal judge on Thursday ruled on summary judgment that six individuals, including a former U.S. Securities and Exchange Commission attorney already in prison for securities fraud, traded unregistered penny stocks in six companies.

U.S. District Judge Sidney A. Fitzwater ruled that the SEC had sufficiently pled that Phillip W. Offill Jr., Shane A. Mullholand, Ryan M. Reynolds, Timothy T. Page and Steven P. Fischer had traded stock in the six companies, which were being taken public, in 2004 without properly registering the offerings with...
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