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Securities and Exchange Commission v. Peter L Jensen et al
Case Number:
2:11-cv-05316
Court:
Nature of Suit:
Judge:
Firms
Government Agencies
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December 12, 2013
SEC Loses Fraud Claims Against Water Purifier Co. Execs
A California federal judge on Tuesday rejected the U.S. Securities and Exchange Commission's accounting fraud allegations against two former executives of Basin Water Inc., finding the SEC hadn't met its burden of proof to show fraud had taken place.
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November 07, 2013
Water Purifier Co. Execs Ran $9M Investor Scam, SEC Says
Two former top executives of Basin Water Inc. scammed investors by inflating the company's revenues, enabling one of them to reap more than $9 million in insider trading profits, a U.S. Securities and Exchange Commission attorney said Thursday during closing arguments in the executives' civil fraud bench trial.