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Pegasus Wireless - PGWC

1. Nel 29 december 2007 17:18

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   zakt steeds verder weg,mooie gok voor 2008
2. adri67 31 mei 2009 13:22

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   Wed May 27, 6:20 pm ET
   
   NEW YORK – The Securities and Exchange Commission has filed fraud charges against Pegasus Wireless Corp. and two of its executives for illegally selling hundreds of millions of the company's shares and lying about it in company filings.
   
   The SEC is claiming that the company's former chief executive, Jasper Knabb, and former chief financial officer, Stephen Durland, reaped more than $30 million through securities law violations. In a statement Wednesday, the SEC said Knabb and Durland used the money to "support their extravagant lifestyles including the purchase of homes, boats, and sports cars."
   
   Pegasus, a communications equipment maker originally based in Fremont, Calif., has been in and out of bankruptcy proceedings since 2008. The company withdrew its shares from the Nasdaq in 2006.
   
   Kevin Gleason, a Florida attorney handling Pegasus' bankruptcy filings, did not return a call seeking comment. A listing for Knabb was not found in Anchorage, Alaska nor Little River, S.C. James Sallah, attorney for Stephen Durland in the matter, declined to comment on the case.
   
   "Knabb and Durland were basically printing Pegasus shares to enrich themselves at the expense of investors," said Marc J. Fagel, Director of the SEC's San Francisco Regional Office, in a statement.
   
   According to the SEC's complaint, Knabb and Durland created Pegasus from a dormant shell company around June 2005 and through "touting several acquisitions" briefly got the company's stock price to soar, giving Pegasus a market value of more than $1.4 billion.
   
   But the SEC said Knabb and Durland secretly controlled hundreds of millions of Pegasus shares, which they sold to individual investors and dumped on the open market through 2008. Knabb and Durland, the SEC said, did not report any of these transactions and instead "falsely told investors they owned only minimal amounts of stock and received no compensation from Pegasus."
   
   Pegasus saw its stock price steadily decline to under a penny.
   
   The SEC is seeking injunctive relief and disgorgement from the defendants, as well as civil penalties.