Friday, August 01, 2014 9:56:57 AM
The SEC's complaint charges Barbera and MSGI with violating antifraud provisions of the federal securities laws. The defendants have consented to the entry of final judgments permanently enjoining them from future violations of the antifraud provisions. In addition, Barbera has agreed to pay a $100,000 penalty and be permanently barred from acting as an officer or director of a public company or from participating in a penny stock offering. Barbera and MSGI neither admitted nor denied the charges. The settlement is subject to court approval.
http://www.sec.gov/litigation/litreleases/2014/lr23052.htm
http://www.sec.gov/litigation/complaints/2014/comp-pr2014-150.pdf
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