posted
Doesn't look very appealing. Attorney General's Office, isn't a slap on the hands SEC type complaint. I would think it might carry a little more authority then the SEC.
Press Release Source: Digital Gas, Inc.
Digital Gas Issues Update to Shareholders Monday October 16, 7:08 pm ET
NEW YORK, Oct. 16, 2006 (PRIMEZONE) -- Digital Gas, Inc. (Other OTC:DIGG.PK - News) announced that on Tuesday, October 10, 2006 the company was named in a civil complaint filed by the state Attorney General's Office and the New Jersey Bureau of Securities for allegations of securities fraud. Also named were Brian Smith of Spring Lake, New Jersey and William Brown of Toronto, Ontario.
Digital Gas intends to fully cooperate with the Bureau in this matter. The company believes that these allegations are without merit and will vigorously defend the interests of its shareholders.
Issues raised in the suit, include the improper issuance of unregistered stock by Smith and Brown to themselves and their associates through the creation of false documents and the creation of false press releases designed to create the impression that the company is more then a shell corporation to inflate the price and demand for the stock.
Digital Gas, Inc., Smith and Brown were banned from the following: 1. any conduct in violation of the New Jersey Uniform Securities Law; 2. selling unregistered securities; 3. acting as unregistered broker-dealers and agents; 4. employing unregistered agents; 5. destroying or concealing documents; and 6. selling or promoting the sale of securities or issuing any press releases in violation of the securities law. The Order also froze the assets of Digital Gas and Brian Smith and his wife Lynn Smith, including real property, personal property, checking and savings accounts, brokerage and trading accounts, Digital Gas stock certificates, and all other assets.
A follow-up hearing is scheduled for November 3, 2006.
Shareholders will be updated either through press releases or at the company's website http://www.digitalgas.com when and as advised by its attorneys.
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
| IP: Logged |
posted
In "the land of pennies", THERE IS NO LONG TERM !!!!!
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
