Welcome, Guest. Please login or register.

Author Topic: David E. Tether  (Read 1577 times)

0 Members and 1 Guest are viewing this topic.

The Web Team

  • Hero Member
  • *****
  • Posts: 8755
  • Karma: 14
    • View Profile
    • Qwoter
David E. Tether
« on: August 06, 2007, 04:01:12 PM »
David E. Tether
     


The Securities and Exchange Commission ("Commission") announced the filing on August 3, 2007 of a complaint against David E. Tether in the United States District Court for the Middle District of Florida. Until August 2004, Tether was the chief executive officer and a director of Solomon Technologies, Inc., a Florida corporation. Solomon's securities have been registered with the Commission since January 2004. The Commission's complaint alleges that in April 2004, Tether fraudulently misrepresented his beneficial ownership of Solomon stock in Solomon's amended annual report filed on Form 10-KSB/A for the year ended December 31, 2003. Specifically, the complaint alleges that Tether transferred 200,000 shares of his Solomon stock while that stock was subject to a publicly disclosed lock up agreement and that the stock was used to pay for a 47-foot catamaran. However, as alleged in the complaint, Tether failed to disclose in the Form 10-KSB/A that he had transferred his locked up stock. Additionally, the Form 10-KSB/A overstated Tether's beneficial ownership of Solomon stock by the 200,000 shares he had already transferred. Moreover, the complaint alleges that Tether failed to file timely a Statement of Changes in Beneficial Ownership of Securities on Form 4 disclosing the transfer of the shares.
     

http://www.sec.gov/litigation/litreleases/2007/lr20226.htm
     
The Web Team
Qwoter.com

Tags:
 

Related Topics

  Subject / Started by Replies Last post
0 Replies
1637 Views
Last post September 05, 2007, 08:00:45 PM
by The Web Team
0 Replies
1553 Views
Last post September 14, 2007, 10:46:55 AM
by The Web Team
0 Replies
1930 Views
Last post September 20, 2007, 04:00:10 PM
by The Web Team
0 Replies
1191 Views
Last post October 25, 2007, 01:00:50 PM
by The Web Team
0 Replies
1771 Views
Last post November 20, 2007, 04:00:10 PM
by The Web Team
0 Replies
1047 Views
Last post November 27, 2007, 05:00:10 PM
by The Web Team
0 Replies
938 Views
Last post January 28, 2008, 01:01:03 PM
by The Web Team
0 Replies
1126 Views
Last post February 05, 2008, 12:00:13 PM
by The Web Team
0 Replies
1319 Views
Last post July 29, 2008, 02:12:45 PM
by The Web Team
0 Replies
4011 Views
Last post September 18, 2008, 10:12:51 AM
by The Web Team