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SEC Files Injunction vs. Positron Corporation, Patrick Rooney, John Rooney

SEC Files Injunction vs. Positron Corporation, Patrick Rooney, John Rooney 150 150 Rex Securities Law

The SEC filed a civil injunction action charging Positron Corporation of Westmont, Illinois, Patrick G. Rooney of Oak Brook , Illinois and John R. Rooney of Jupiter, Florida, for orchestrating a market manipulation scheme involving the stock of Positron.  The case was filed in the US District Court for the Southern District of Florida.

The SEC complaint alleges that Positron, Patrick Rooney and John Rooney, engaged in market manipulation fraud by making a payment to a stock promoter who purchased shares of Positron in the open market ahead of planned press releases to help them manipulate the price of the stock, an activity designed to generate the appearance of legitimate market activity in an attempt to artificially increase the trading and price and volume.

The U.S. Attorney’s Office announced criminal charges against Patrick and John Rooney as well.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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