SEC Sues Penny Stock Brokerage: The Securities...
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From Times Staff and Wire Reports
SEC Sues Penny Stock Brokerage: The Securities and Exchange Commission charged the troubled Colorado penny stock brokerage Blinder, Robinson & Co. with overcharging investors by more than $20 million in 21 months. According to a lawsuit filed in U.S. District Court, Blinder Robinson marked up prices as high as 140% on penny stocks when selling them to investors. The SEC complaint said the alleged illegal activity took place from June, 1985, through February, 1987.
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