SEC v. Vector Medical Technologies
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA Securities and Exchange Commission, Plaintiff, v. Vector Medical Technologies, Inc., Michael H. Salit, Michael J. Farnell, David A. Zimmerman and Stanley B. Wasser, Defendants. COMPLAINT FOR INJUNCTIVE AND OTHER RELIEF Plaintiff Securities and Exchange Commission (“SEC” or “Commission”) alleges that: INTRODUCTION 1. The Commission brings this action to permanently restrain and enjoin Defendants Vector Medical Technologies, Inc. (“Vector” or the “Company”), Michael H. Salit (“Salit”), James P. Farnell (“J. Farnell”), Michael J. Farnell (“M. Farnell”), David A. Zimmerman (“Zimmerman”) and Stanley B. Wasser (“Wasser”) (collectively “Defendants”) from violating the federal securities laws through their unregistered, fraudulent offerings and sales of securities issued by Vector. From early 1999 through at least April 2000, Defendants raised almost $16 million …
Continue Reading >SEC Sues Vector Medical Technologies, Inc., Michael H. Salit, James P. Farnell, Michael J. Farnell, David A. Zimmerman and Stanley B. Wasser for Fraud in Connection with the Company’s Unregistered Securities Offering That Raised Approximately $16 Million Primarily from Physician Investors
SEC Sues Vector Medical Technologies, Inc., Michael H. Salit, James P. Farnell, Michael J. Farnell, David A. Zimmerman and Stanley B. Wasser for Fraud in Connection with the Company’s Unregistered Securities Offering That Raised Approximately $16 Million Primarily from Physician Investors Civil Action No. 03-80858-CIV-HURLEY (SD Fla., filed September 11, 2003 SEC Litigation Release No. 18348, September 12, 2003 The Securities and Exchange Commission (Commission) announced that it filed an action for injunctive relief in United States District Court for the Southern District of Florida on September 11, 2003, charging Vector Medical Technologies, Inc. (Vector), Michael H. Salit (Salit), James P. Farnell (J. Farnell), Michael J. Farnell (M. Farnell), David A. Zimmerman (Zimmerman) and Stanley B. Wasser (Wasser) with securities fraud for their participation in …
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