Defendant Name: Pegasus Wireless Corporation

Defendant Type: Public Company

Document Reference: LR-21060

Document Details

Legal Case Name SEC (Plaintiff) v. Pegasus Wireless Corporation, Jasper Knabb, and Stephen Durland (Defendants) and Aero-Marine, LLC and Tammy Knabb (Relief Defendants)
Document Name SEC Charges Wireless Company Executives in $30 Million Stock Dumping Scheme
Document Date 27-May-2009
Document Format Civil Proceeding
Case Number 09-cv-02302
Federal District Court California, Northern District of California
Allegation Type Issuer Reporting and Disclosure
Document Summary The SEC "announced the filing of securities fraud charges against Pegasus Wireless Corporation and two of its senior officers who defrauded investors by illegally selling hundreds of millions of Pegasus shares they secretly controlled and lying about the transactions in company filings."

Related Documents:

comp21060 26-May-2009 Complaint
Complaint
The Commission stated: "This matter involves a securities fraud scheme by officers of Pegasus Wireless Corp., a once high-flying technology company that was based in Fremont, California. . . . [T]he defendants violated the antifraud, registration, and other provisions of the federal securities laws, and caused Pegasus to file numerous false reports with the Commission."
court_doc133_09-cv-02302 12-Aug-2011 Court Docket Document
Default Judgment Against Defendant Pegasus Wireless Corporation
On August 12, 2011, the Court issued a final judgment against Pegasus Wireless Corporation stating: "the Court finds that the well-pleaded allegations of the Complaint are sufficient to find that Pegasus committed the violations of the federal securities laws alleged against it in the Complaint in this action and that, unless it is permanently restrained and enjoined, there is a reasonable likelihood that Pegasus will commit further violations of such laws."