A penny-stock promoter with an account on X, then known as Twitter, engaged in fraudulent conduct and manipulative trading, a federal jury determined Friday in an SEC enforcement case.
The Securities and Exchange Commission proved its fraud claim against Steven Gallagher for all 31 stocks at issue in the civil trial, according to the verdict in the US District Court for the Southern District of New York. Judge P. Kevin Castel oversaw the proceedings.
“We’re disappointed in the verdict and exploring our options for further review,” said Eric Rosen, an attorney for Gallagher. Rosen is with Dynamis LLP.
Gallagher allegedly ...
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