Defendant Name: Competitive Technologies, Inc.

Defendant Type: Public Company
SIC Code: 6794
CUSIP: 20451210

Initial Case Details

Legal Case Name SEC v. Competitive Technologies, Inc., Chauncey D. Steele, John R. Glushko, Thomas C. Kocherhans, Richard A. Kwak, Sheldon A. Strauss, Stephen J. Wilson and Frank R. McPike
First Document Date 11-Aug-2004
Initial Filing Format Civil Proceeding
Case Number 04-cv-01331
Allegation Type Market Manipulation
Federal District Court Connecticut, District of Connecticut

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
Other
• Section 9(a) Exchange Act

Resolutions

First Resolution Date 26-Oct-2007

Related Documents:

complaint_04-cv-01331 11-Aug-2004 Complaint
Complaint
The SEC stated: "This case involves a prolonged, multi-faceted scheme to manipulate and inflate the price of CTT stock."
court_doc218_04-cv-01331 26-Oct-2007 Court Docket Document
Final Judgment of Permanent Injunction and Other Relief as to Defendant Competitive Technologies, Inc.
On October 26, 2007, the Court issued a final judgment as to defendant Competitive Technologies, Inc., stating: "Competitive Technologies, Inc. ("CTT") . . . consented to entry of this Final 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 Final Judgment."
LR-20388 07-Dec-2007 Litigation Release
Jury Trial Results in Verdict Against SEC Defendant. SEC to Retry Case Against Two Others
The Commission stated: "The defendants participated in a scheme to manipulate and inflate the price of CTT's stock from at least July 1998 to June 2001. The complaint alleged that the defendants artificially raised and maintained the price of CTT's stock and created a false or misleading appearance with respect to the market for CTT stock through manipulative practices."
LR-20783 16-Oct-2008 Litigation Release
Litigation Release
The SEC stated: "The Commission's complaint, filed against a total of eight defendants on August 11, 2004, alleged that the defendants participated in a scheme to manipulate and inflate the price of CTT stock from at least July 1998 to June 2001. The complaint alleged that the defendants (which included CTT itself and its former CEO, plus six former registered representatives of broker-dealers) raised and maintained the price of CTT's stock and created a false or misleading appearance with respect to the market for CTT stock through manipulative practices such as placing buy orders at or near the close of the market in order to inflate the reported closing price ("marking the close"), placing successive buy orders in small amounts at increasing prices ("painting the tape"), and using accounts they controlled or serviced to place pre-arranged buy and sell orders in virtually identical amounts (placing "matched trades")."

Other Defendants in Action:

Chauncey D. Steele
John R. Glushko
Thomas C. Kocherhans
Richard A. Kwak
Sheldon A. Strauss
Stephen J. Wilson
Frank R. McPike

Related Actions:

In the Matter of John R. Glushko
John R. Glushko