Defendant Name:
Heart Tronics, Inc.
Defendant Type:
Public Company
SIC Code:
3845
CUSIP:
82669P10
Initial Case Details
Legal Case Name
SEC v. Heart Tronics, Inc. , Mitchell Jay Stein, Willie James Gault, J. Rowland Perkins, II, Martin Bert Carter, Mark Crosby Nevdahl, and Ryan Allan Rauch, Defendants, Tracey Hampton-Stein, Arc Finance Group, LLC, ARC Blind Trust, THS Blind Trust, Jaymi Blind Trust, Oak Tree Investments Blind Trust, WBT Investments Blind Trust, Catch 83 General Partnership, and Five Investments Partnership, Relief Defendants.
First Document Date
20-Dec-2011
Initial Filing Format
Civil Proceeding
Case Number
11-cv-01962
Allegation Type
Issuer Reporting and Disclosure
Federal District Court
California, Central District of California
Violations Alleged
•
Sec 17(a) (Not specified)
•
Securities Act Regulation S-T; Rule 12b-11 Exchange Act
Additionally,
Mitchell J. Stein is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act (willfully/knowingly).
Mitchell J. Stein is alleged to have controlled Heart Tronics, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Martin Bert Carter is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act (willfully/knowingly).
Willie Gault is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act (willfully/knowingly).
Mitchell J. Stein is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Rule 12b-20 of the Exchange Act (willfully/knowingly).
Martin Bert Carter is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Rule 12b-20 of the Exchange Act (willfully/knowingly).
Mitchell J. Stein is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Sec 13(a) of the Exchange Act (willfully/knowingly).
Martin Bert Carter is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Sec 13(a) of the Exchange Act (willfully/knowingly).
Mitchell J. Stein is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Rule 13a-1 of the Exchange Act (willfully/knowingly).
Martin Bert Carter is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Rule 13a-1 of the Exchange Act (willfully/knowingly).
Mitchell J. Stein is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Rule 13a-11 of the Exchange Act (willfully/knowingly).
Martin Bert Carter is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Rule 13a-11 of the Exchange Act (willfully/knowingly).
Mitchell J. Stein is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Rule 13a-13 of the Exchange Act (willfully/knowingly).
Martin Bert Carter is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Rule 13a-13 of the Exchange Act (willfully/knowingly).
Mitchell J. Stein is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act (willfully/knowingly).
Martin Bert Carter is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act (willfully/knowingly).
Mitchell J. Stein is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act (willfully/knowingly).
J. Rowland Perkins is alleged to have aided and abetted Heart Tronics, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act (willfully/knowingly).
Resolutions
First Resolution Date
01-Oct-2014
Related Documents:
Complaint
The SEC filed a complaint on December 20, 2011. In the complaint, the SEC alleged that ""[b]etween December 2005 and December 2008, defendant Mitchell J. Stein ('Stein'), the purported outside counsel of defendant Heart Tronics, Inc., ... and husband of its majority shareholder, orchestrated a brazen series of frauds designed to inflate the price of Heart Tronics stock so that he could profit from selling its securities to investors."
SEC Charges Heart Tronics, Inc. and Six Individuals in Connection with a Series of Fraudulent Schemes Pumping Company Stock
On December 20, 2011, the SEC issued a litigation release describing the complaint against Heart Tronics, Inc. and six individual defendants.
2011-271
20-Dec-2011
Press Release--Civil Action
SEC Charges California Company, Co-CEOs, and Attorney in Series of Fraudulent Schemes Pumping Company Stock
On December 20, 2011, the SEC announced that it charged purported heart monitoring device company Heart Tronics, Inc. ("Heart Tronics") and six individuals involved in a series of fraudulent schemes to artificially inflate the company's stock. According to the SEC's complaint filed in federal court in Los Angeles, Heart Tronics--known as "Signalife" during most of the scheme's time period from December 2005 to December 2008--fraudulently and repeatedly announced millions of dollars in sales orders for its product between 2006 and 2008 when, in fact, the company never had viable sales orders from actual customers. The SEC charges the defendants with various violations of the federal securities laws and seeks disgorgement of ill-gotten gains with prejudgment interest financial penalties and permanent injunctive relief.
Judgment as to Defendant Heart Tronics, Inc.
On October 1, 2014, the Court issued a final judgment as to Defendant Heart Tronics, Inc. stating: "Defendant Heart Tronics, Inc. consented to entry of this Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Judgment."
Other Defendants in Action:
