A former government informant scored a win in a yearslong fight with the SEC after a federal judge in New Jersey dismissed claims stemming from penny stock manipulation schemes more than a decade old.
Guy Gentile doesn’t have to face the Securities and Exchange Commission’s suit seeking injunctions against him because the agency complaint failed to state a plausible claim for relief, the U.S. District Court for the District of New Jersey said Tuesday in an unpublished opinion.
The agency sought an obey-the-law injunction and a penny stock bar against Gentile, a broker and former FBI informant. “Despite accepting ...
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