SEC accuses Boca man of penny stock violations
Posted on Tue, Sep. 16, 2008
The Securities and Exchange Commission on Friday filed a lawsuit against a Boca Raton man alleging he violated a SEC administrative order that bars him from selling penny stocks.
The SEC's suit claims Larry W. Kerschenbaum in 2005 solicited investors to purchase shares in Great Cities Media, a now-defunct Fort Lauderdale company that purportedly produced high-definition television shows.
The SEC's complaint seeks a permanent injunction, a judicial order barring Kerschenbaum from selling penny stocks, and a fine.
