Sunergy, Inc. (fka SNEY)

[CancunCharlie]

have you guys (and gals) seen this? SEC lawsuit.

SNEY isn't mmentioned, but our neighbor SGCP is, and it says that hundreds of penny stock companies were affected by this.

http://www.sec.gov/litigation/complaints/2012/comp-pr2012-165.pdf


SUMMARY

1. Since at least August 2009, Defendants have engaged in a scheme to purchase billions of shares of stock from small companies and illegally resell those shares to the investing public, without complying with the registration requirements of the federal securities laws. The federal registration requirements protect investors by promoting full disclosure ofinformation deemed necessary for informed investment decisions. Investors were deprived of such protections by Defendants' misconduct. Bronson and E-Lionheart have reaped more than $10 million in profits from these illegal sales.


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15.Defendants' illegal operation typically followed the same pattern. Operating from E-Lionheart's office in White Plains, New York, Bronson, or E-Lionheart personnel acting at Bronson's direction, "cold called" OTC Link quoted companies to ask ifthey were interested in obtaining capital. Ifthe company was interested, Bronson, or E-Lionheart personnel acting at his direction, would offer to buy stock in the company at a rate that was deeply discounted from the price the company's stock was then trading at.

16. If a company expressed interest, Bronson (or E-Lionheart personnel acting at his direction) prepared a subscription agreement and other documents to effect the transaction. In certain instances, Defendants prearranged with the company to purchase multiple "tranches" of the company's securities in the future once Defendants were able to sell earlier tranches into the public market.