Defendant Name:
Conolog Corporation
Defendant Type:
Public Company
Document Reference:
LR-23141
Document Details
Legal Case Name
SEC v. Robert Benou, Marc Benou, and Conolog Corporation
Document Name
Litigation Release
Document Date
25-Nov-2014
Document Format
Civil Proceeding
Case Number
14-cv-07284
Federal District Court
New Jersey, District of New Jersey
Allegation Type
Market Manipulation
Document Summary
On November 25, 2014, the SEC announced that it filed a complaint against Conolog Corporation ("Conolog"), Robert Benou, and Marc Benou with violating the antifraud provisions of the federal securities laws. According to the SEC: "Conolog issued three consecutive press releases in early 2010 with distorted information at the behest of chairman and then-CEO Robert Benou with assistance from his son and company president Marc Benou....The promotional efforts significantly increased the company's stock price and trading volume, and [respondents] made combined profits of more than $81,000 through undisclosed sales of some of their stock holdings at the artificially inflated prices."
Other Defendants in Action: