The SEC sued Western Sierra Resource Corp. and two senior executives alleging they mislead investors by saying that the company had a multi-billion dollar interest in gold mining claims when it didn’t.
The Utah corporation’s press releases and over-the-counter markets statements omitted and misconstrued the financial logistics of deals driving the mine’s development since June 2021, said the complaint filed June 18 in the US District Court for the District of Colorado.
The Securities and Exchange Commissions alleges that CEO Roger Johnson and CFO Dennis Atkins hyped up its gold mining operation to encourage investors to buy stock “without knowing ...
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