Toronto Man to Pay $42,000 in SEC Pump-and-Dump Case, Judge Says

A Canadian stock promoter accused of leading a pump-and-dump scheme involving a small cannabis-and-gaming company will cough up more than $42,609 in a Securities and Exchange Commission suit, a federal judge ruled.

The court had previously granted summary judgment to the SEC, and the penalty amount was fair “in light of the $67,184.91 restitution order” entered in a related criminal case against Andrew Hackett, Judge William Q. Hayes wrote in his judgment in the US District Court for the Southern District of California docketed Wednesday.

• Hackett is barred from offering penny stocks, is liable for disgorgement of $30,812, and must ...