Russell L. Forkey, P.A.Attorney at law
Schedule a consultation
Toll free 888-671-0962
Local954-514-9605 | 561-406-4644
Menu
Working Diligently To Protect Your Rights

Patrick G. Rooney, John R. Rooney and Positron Corporation - Boca Raton, Florida Market Manipulation and Investment Fraud Litigation and Arbitration Attorney

Patrick G. Rooney, John R. Rooney and Positron Corporation - Boca Raton, Florida Market Manipulation and Investment Fraud Litigation and Arbitration Attorney

SEC v. Patrick G. Rooney, John R. Rooney, and Positron Corporation, Civil Action No. 9:14-cv-81224-KAM (U.S. District Court for the Southern District of Florida)

The Securities and Exchange Commission announced that on September 30, 2014 it filed a civil injunctive action charging Positron Corporation, a microcap company based in Westmont, Ill., Patrick G. Rooney of Oak Brook, Ill., the company's then-CEO, and John R. Rooney of Jupiter, Fla., a penny stock promoter, for orchestrating a market manipulation scheme involving the company's stock.

According to the SEC's complaint filed in the United States District Court for the Southern District of Florida, Positron Corporation, Patrick Rooney, and John Rooney, engaged in market manipulation fraud in which they made an inducement payment to a stock promoter who would purchase shares of Positron in the open market ahead of planned press releases to help them manipulate the stock. The SEC alleges that the scheme was designed to generate the appearance of market activity in the company's stock to induce investors to purchase the stock and artificially increase the trading price and volume.

The SEC's complaint alleges that the defendants violated Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and 10b-5(c). The SEC is seeking permanent injunctions and civil money penalties against all three defendants, as well as penny stock bars against both Patrick and John Rooney and an officer-and-director bar against Patrick Rooney.

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

No Comments

Leave a comment
Comment Information

Office location

Russell L. Forkey, P.A.
1075 Broken Sound Parkway NW, Suite 103
Boca Raton, FL 33487

Toll Free: 888-671-0962
Phone: 954-514-9605
Fax: 561-406-4633
Map & Directions