Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Monday, April 7, 2008

SEC Obtains Jury Verdict Against Stock Promoter

The SEC obtained a jury verdict against stock promoter Cort L. Poyner of Pompano Beach, Fla.  The SEC had alleged that Poyner defrauded investors in a California start-up company called The Children's Internet, falsely stating that the company's stock would be listed on a national stock exchange shortly and failing to disclose that he was receiving a 25% commission for selling the stock.

The Commission charged Poyner with fraud and the sale of unregistered securities. Following a three-day jury trial in Oakland, Calif., the jury found Poyner liable on all counts.

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