Action against Defendants, a company, its former chairman, his wife, and a media advertising consultant, for alleged fraudulent misrepresentations.  According to the SEC, Defendants represented that company had issued shares to third parties in compensation for services and in discharge of company debt but instead issued the shares for capital-raising purposes in violation of the offering registration requirements.  Defendant consultant has agreed to a penny stock ban and to pay disgorgement of $32,203.95 and prejudgment interest of $5,407.95.  The SEC is litigating its claims against the remaining Defendants.

SEC Litigation Release  

SEC Complaint