Statement on Jury’s Verdict in Trial of Bernard Findley and Halitron Inc

After a seven-day trial, a jury in the United States District Court for the District of Connecticut found Bernard Findley and Halitron Inc, liable for securities fraud in connection with their false and misleading statements in press releases.

Statement of SEC Division of Enforcement Director Gurbir S. Grewal:

“We are pleased with the jury verdict holding Bernard Findley and Halitron, Inc., liable for securities fraud. Halitron and its CEO, Bernard Findley, issued multiple false and misleading press releases that materially misrepresented information about Halitron's stock buyback program, the status of an audit of the company, as well as the value of certain assets in an effort to prop up the value of Halitron’s stock, to generate purchases of the stock on the OTC markets, and to attract financiers to provide funding to Halitron. The defendants’ disclosure failures deprived investors of critical information they needed to evaluate whether to invest in Halitron. All issuers of securities must ensure that their disclosures are complete and accurate, and this verdict underscores the SEC’s commitment to protect investors from those who violate the securities laws.”

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More information:

The SEC filed its civil complaint on March 25, 2020.

https://www.sec.gov/litigation/litreleases/2020/lr24781.htm