Tecumseh To Disgorge $7.3M To Settle With SEC

Law360, New York (March 18, 2009, 12:00 AM EDT) -- The court overseeing a case the U.S. Securities and Exchange Commission brought against numerous defendants including Tecumseh Holdings Corp. over alleged fraudulent securities offerings has signed off on a settlement deal that calls on Tecumseh to disgorge more than $7 million.

A judge in the U.S. District Court for the Southern District of New York entered a final consent judgment against Tecumseh Holdings, Tecumseh Tradevest LLC and former broker-dealer S.B. Cantor & Co. Inc. on March 9. In addition to the judge, Allen & Overy attorney...
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