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."

Related Documents:

complaint_14-cv-07284 21-Nov-2014 Complaint
Complaint
In the Complaint, the SEC stated: "This case involves a series of materially false and misleading press releases that inflated the market price and trading volume of the stock of Monolog, a publicly traded microchip company involved in manufacture of communications equipment. From January 27 through February 17, 2010, Monolog issued three press releases about its business operations that, among other things, mischaracterized testing done on a new product and overstated the amount of customer orders that Monolog had received for existing products. At the same time, Monolog hired a marketing firm to promote Monolog stock using the materially false and misleading statements from the press releases."
court_doc4_14-cv-07284 06-Jan-2015 Court Docket Document
Final Consent Judgment as to Defendant Conolog Corporation
On January 2, 2015, Judge Peter G. Sheridan entered Final Consent Judgment as to defendant Conolog Corporation. Conolog Corporation consented to the entry of the Final Judgment without admitting or denying the allegations of the SEC's complaint.

Other Defendants in Action:

Marc Benou
Robert Benou