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virginaian: Here's what the judge says about this

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jking1999   Thursday, 02/22/07 07:53:01 PM
Re: virginian post# 3530
Post # of 17605 
virginaian: Here's what the judge says about this pioneer:

As CEO of a publicly held company, Altomare occupied and continues to occupy a position of significant power, which he abused by repeatedly and brazenly committing fraud and flouting investor-protecting registration requirements. He has not only opposed the SEC’s request for summary judgment without pointing to a single piece of evidence sufficient to create a genuine issue as to any material fact of his liability, but he has also had the chutzpah on an
overwhelming unfavorable record to seek summary judgment himself. The defendant’s professional position and apparent refusal to acknowledge the types of conduct that violate securities laws raise serious concerns that he will engage in such misconduct in the future. For
these reasons, the Court, applying the multi-factor inquiry typically employed on such requests, Patel, 61 F.3d at 141, concludes that Altomare should be barred from serving as a company officer or director within the meaning of 15 U.S.C. § 78u(d)(2).



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