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November 10, 1993 | SCOT J. PALTROW, TIMES STAFF WRITER
The Securities and Exchange Commission's chief administrative law judge has taken the unusually harsh action of permanently banning from the securities industry three Southern California brokers who had been affiliated with a now-defunct penny stock brokerage. All three had worked in Orange County or San Diego in the late 1980s for Stuart-James Co., a penny stock brokerage. Stuart-James folded in 1990 after paying $1.9 million to settle civil charges of defrauding customers. Judge Warren E.
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BUSINESS
November 10, 1993 | SCOT J. PALTROW, TIMES STAFF WRITER
The Securities and Exchange Commission's chief administrative law judge has taken the unusually harsh action of permanently banning from the securities industry three Southern California brokers who had been affiliated with a now-defunct penny stock brokerage. All three had worked in Orange County or San Diego in the late 1980s for Stuart-James Co., a penny stock brokerage. Stuart-James folded in 1990 after paying $1.9 million to settle civil charges of defrauding customers. Judge Warren E.
BUSINESS
November 10, 1993 | From Times Staff and Wire Reports
Three Brokers Barred: The SEC's chief administrative law judge took the unusually harsh action of permanently barring from the securities industry the brokers, who were affiliated with a now-defunct penny stock brokerage. Judge Warren E. Blair imposed the penalty on Martin H. Engelman, who now works at the brokerage firm Chatsworth Dean & Co. in San Diego; Lawrence D. Isen, employed by Cohig & Associates in Solana Beach, Calif., and Peter P. Kim of Los Angeles.
BUSINESS
January 27, 1987
Irvine-based Disease Detection International said it raised $5.1 million in its recently completed initial public offering of 750,000 units at $6 a unit. A subsidiary of Environmental Diagnostics, DDI manufactures detection kits for parasitic diseases in animals. The company said each unit in the offering consisted of 100 shares of common stock and 25 common stock purchase warrants. The underwriting company, Stuart-James Co. Inc., also exercised its option for an additional 112,500 units.
BUSINESS
April 11, 1989 | From Reuters
The Securities and Exchange Commission said Monday that it had charged the nation's biggest penny stock broker, Stuart-James Co., and its two owners with defrauding clients by creating artificial markets and markups of up to 200% on the first day of trading in two new stock issues. The SEC staff also charged the Denver-based company and its owners with causing salesmen to use misleading scripts to pitch stocks by phone. The scripts included illegal, bullish predictions for speculative low-priced securities, the commission charged.
BUSINESS
August 21, 1990 | JOHN MEDEARIS, TIMES STAFF WRITER
Acqua Group Inc., a Van Nuys company that markets and distributes water purification and cooling systems, plans to raise $4.35 million with an initial public offering, according to documents filed with the Securities and Exchange Commission. Acqua Group plans to sell about 870,000 shares to the public for about $5 per share and use the money to expand its operations and repay some debt.
BUSINESS
January 1, 1991 | PHILIPP GOLLNER, TIMES STAFF WRITER
Acqua Group Inc., a Van Nuys company that assembles and markets bottle-less water coolers, completed a $3-million initial public stock offering last month. The company will use the proceeds to pay off debts and expand operations. The offering consisted of 500,000 units, each made up of two shares of common stock and an option to purchase additional stock. The company's water coolers use a filter that reduces chemicals and metals that may be present in tap water.
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