Tivus, Inc. (TIVU)

[jpr1969]

it is illegal under US law to claim ownership of patent when one does not exist. However, the fine is really rather insignificant, usually only around $500.00. You would be better off seeking criminal charges under “Fraud”. But remember burden of proof lies on the plaintiff, not the defendant. It would be hard to prove that SP willingly and knowingly attempted to mislead you and other investors by claiming that he held patents that did not exist. It is not illogical for one to suggest that before you invest in a company that you at least check the U.S. Patent office to research if the claimed patent exist. Furthermore, establishing jurisdiction for such a trial would presumably prove to be very costly. Without a significant outlay of cash, it is highly unlikely that you will ever re-coup any of your losses through legal litigation. If you are interested, you can find more information on filing a complaint with the SEC here:

http://www.sec.gov/complaint/tipscomplaint.shtml

Looks like SP has a brother named John H. Rivera, selling BIO FUELS
Not really his brother, but John’s actions sure sound very familiar.

You can read the story here:
http://www.sec.gov/litigation/complaints/2008/comp20648.pdf