Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
D.C.
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Mass.
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
N.Carolina
N.Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
S.Carolina
S.Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W.Virginia
Wisconsin
Wyoming
Law Firm Website Design Companies : The Good, The Bad, and The Ugly

SEC action alleges Spear & Jackson stock scheme

  Securities  -   POSTED: 2007/04/11 14:58

U.S. securities regulators have started enforcement proceedings against a broker-dealer and its principal accused of helping inflate the price of tool maker Spear & Jackson Inc.'s (SJCK.PK: Quote, Profile, Research) shares and executing orders to sell them. The Securities and Exchange Commission said the proceedings would determine what remedial actions, such as civil penalties, are appropriate against Winter Park, Florida-based broker-dealer Park Financial Group Inc. and its principal, Gordon Cantley.

Spear & Jackson's former chief executive, Dennis Crowley, has already settled with the SEC in a related fraud case, agreeing to pay more than $6.1 million.

Lawyers for Park and Cantley did not immediately return phone calls seeking comment.

Spear & Jackson manufactures and distributes hand tools, lawn and garden tools, industrial magnets and meteorology tools.

The SEC said that between February 2002 and July 2003, Park and Cantley executed numerous trades in Spear & Jackson stock, despite obvious red flags. Proceeds from the trades were about $2.5 million.

On several occasions, former CEO Crowley gave Park and Cantley sell orders on Spear & Jackson stock for three British Virgin Islands companies that he secretly controlled, the SEC said.

The SEC said Park and Cantley filled the orders knowing that Crowley was the CEO of Spear & Jackson and that the British Virgin Islands companies' accounts traded only in the stock, often buying and selling shares on a daily basis.


Legal News | Breaking News | Terms & Conditions | Privacy

ⓒ Breaking Legal News. All Rights Reserved.

The content contained on the web site has been prepared by BLN as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. Affordable law firm web design company
   More Legal News
   Legal Spotlight
   Exclusive Commentaries
   Attorney & Blog - Blog Watch
   Law Firm News  1  2  3  4  5  6 
   Lawyer & Law Firm Links
Car Accident Lawyers
Sunnyvale, CA Personal Injury Attorney
www.esrajunglaw.com
Family Law in East Greenwich, RI
Divorce Lawyer, Erica S. Janton
www.jantonfamilylaw.com
Oregon DUI Law Attorney
Eugene DUI Lawyer. Criminal Defense Law
www.mjmlawoffice.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Chicago, Naperville IL Workers' Compensation Lawyers
Chicago Workplace Injury Attorneys
www.krol-law.com
Raleigh, NC Business Lawyer
www.rothlawgroup.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Los Angeles Immigration Documents Service
New Vision Immigration
www.immigrationnew.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
   More Legal News  1  2  3  4  5  6
   Legal News Links
  Click The Law
  Daily Bar News
  The Legal Report
  Legal News Post
  Crisis Legal News
  Legal News Journal
  Korean Web Agency
  Law Firm Directory