StationDigital Corp. (fka SDIG)

[Arthur]

Timothy Roberts, Terrance Taylor indicted by the SEC over Savtira

Securities and Exchange Commission v. Timothy M. Roberts, Terrance F. Taylor, and Craig Constantinou, Civil Action No. 8:15-cv-2093-T-17-MAP (M.D. Fla., filed September 9, 2015)
http://www.sec.gov/litigation/litreleases/2015/lr23339.htm

According to the SEC's complaint filed in the U.S. District Court for the Middle District of Florida, Timothy M. Roberts and Terrance F. Taylor, Savtira's former CEO and CFO, lied to investors about Savtira's likely profitability, including by misusing a valuation that was predicated on false and misleading revenue projections, and failed to tell investors that Roberts already had a disciplinary history based on his settlement in an earlier and unrelated SEC case against him. Roberts and Taylor described Savtira, in both marketing materials and presentations to investors, as a highly-valued enterprise with patented technology and hundreds of millions of dollars in projected revenues. In reality, however, Savtira was insolvent and had minimal revenues.