Fla. Tire Biz Must Pay $8.7M In SEC Stock Inflation Suit

Law360, New York (February 13, 2012, 5:00 PM EST) -- Magnum d'Or Resources Inc., a purported tire recycling business headquartered in Florida, must cough up nearly $8.7 million, a federal judge in Miami ruled Monday, after securities regulators accused the company of pumping up its stock and pocketing the profits.

U.S. District Judge Adalberto Jordan closed the book on the Magnum d'Or case after the U.S. Securities and Exchange Commission previously won judgments against four individuals who also were named as defendants in the civil fraud suit lodged in April.

Starting in 2008, Magnum d'Or, its...
To view the full article, register now.




Case Information

Case Title

Securities and Exchange Commission v. Magnum d'or Resources, Inc. et al

Case Number



Florida Southern

Nature of Suit



Ursula Ungaro

Date Filed

April 29, 2011

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.