The Atlanta office of the Securities and Exchange Commission has slapped Mobile Ready Entertainment Corp and its ex-CEOs Michael H. Magolnick and Craig A. Mora with a lawsuit, accusing the firm and the two executives of having run
SEC Slaps Mobile Ready Entertainment With Lawsuit Alleging Pump And Dump Scheme
Summary:
The Atlanta office of the Securities and Exchange Commission has slapped Mobile Ready Entertainment Corp and its ex-CEOs Michael H. Magolnic…
Myself and many of my family members invested in this stock. Are their any remedies for us to get our money back? One of my relatives invested most of his 401K in this venture while they were in Coral Springs, Florida.
The really sad thing about this is that it was recommended by several groups as a good buy. They didn't just fool the public, they took the professionals for a ride too.
Unfortunately, it is up to the SEC to decide what action will be taken as far as restitution on the shareholders behalf is conserned. And, also unfortunately, it is the risk we all take when buying and selling penny stocks.