02:03:09 EDT Wed 27 Sep 2023
Enter Symbol
or Name

SEC's Upper Street defendant Dudley denies wrongdoing

2023-06-06 20:42 ET - Street Wire

Also Street Wire (U-UPPR) Upper Street Marketing Inc

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Francis Dudley, a Florida stock tout charged alongside Vancouver's Barry Reagh and others for a 2019 pump-and-dump, denies that he did anything wrong. The U.S. Securities and Exchange Commission claims that Mr. Dudley distributed misleading research reports, with those reports claiming that a cannabis listing had the "home court advantage" as part of a "$22 billion gold rush" triggered by the prospect of legalization. (All figures are in U.S. dollars.) The touting came as others unloaded $1-million worth of stock, the SEC said.

The denials from Mr. Dudley are contained in an answer filed on Monday, June 5, in federal court in San Diego. The document is 24 pages long, but it mostly contains generic denials. In response to almost every paragraph of the SEC's complaint, Mr. Dudley says that he is "without knowledge and demands strict proof thereof."

Mr. Dudley does make some admissions, however. In particular, he admits that an entity he owns distributed "some amount of so-called research reports in 2019" and that he reviewed those reports. He denies that there was anything false or misleading about the reports, and denies that he acted negligently. While Mr. Dudley has little else to say in response, he "affirmatively asserts that he has done nothing wrong." He also denies that he realized any gains from the scheme, and asks for a trial by jury.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2023 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.

all those p o s newfies and the newfie government arrested yet for the big stock scam they a part of? all burying our heads not reporting it? nuke the newfies, nuke em

Posted by oh at 2023-06-07 07:50

Did Mr. Reagh pay that $444,000 bill from the CDNX?

Posted by halcrow at 2023-06-07 13:57