Defendant Name:
Packetport.com, Inc.
Defendant Type:
Other
Document Reference:
complaint_05-cv-01747
Document Details
Legal Case Name
SEC v. Packetport.com, Inc., Ronald Durando, Packetport, Inc., Microphase, Corp., Robert H. Jaffe, Gustave Dotoli, IP Equity, Inc., M. Christopher Agarwal, Theodore Kunzog, and William Coons III
Document Name
Complaint
Document Date
15-Nov-2005
Document Format
Civil Proceeding
Case Number
05-cv-01747
Federal District Court
Connecticut, District of Connecticut
Allegation Type
Market Manipulation
Document Summary
The SEC alleged that: "... PacketPort.com, Inc. ("PacketPort.com"), Ronald Durando ..., PacketPort, Inc., Microphase Corp. ..., Robert H. Jaffe ..., Gustave Dotoli ..., IP Equity, Inc. ..., M. Christopher Agarwal ..., and Theodore Kunzog ... executed a fraudulent "pump and dump" market manipulation scheme, aided and abetted by ... William Coons III ..., involving the illegal sale of PacketPort.com common stock from about December 14, 1999, into February 2000. The scheme included, among others acts, acquiring majority control of a failed and indebted public company, changing the company's name, laundering restrictive legends from stock certificates representing restricted and affiliate-owned stock, pumping up the trading price of the company's stock through false publicity, and selling restricted stock to the public at artificially-inflated prices for large profits...."
Other Defendants in Action:
