The CEO and a former director of Patient Access Solutions Inc., a company that issued low-capitalization stock, engaged in a scheme to inflate stock prices by falsely claiming a merger was being negotiated and promoting other “fictions,” the SEC says in a complaint filed Thursday.
The former director, Joseph Gonzalez, has entered into a consent agreement that includes a $120,000 penalty, the Securities and Exchange Commission says in a press release. The case was filed in the US District Court for the Eastern District of New York against the two individuals and the company.
Patient Access Solutions, known as PASO, ...
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