Deli Decried by Einhorn Over $100 Million Value Draws Charges

Three people involved with a $100 million public company built around a single New Jersey deli were charged with securities fraud and market manipulation.

Federal prosecutors on Monday accused James T. Patten, Peter L. Coker Sr. and Peter L. Coker Jr. of artificially inflating the price of two companies through manipulative trading. One of them was Hometown International Inc., the sole asset of which was “Your Hometown Deli” in Paulsboro, New Jersey, across the Delaware River from Philadelphia’s airport.

Hometown became infamous when hedge fund legend David Einhorn of Greenlight Capital highlighted the company in a letter to investors ...