Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Friday, March 29, 2024 | Back issues
Courthouse News Service Courthouse News Service

SEC Sues Stun-Gun Maker Stinger

ATLANTA (CN) - Stinger Systems and its CEO Robert Gruder defrauded the market and drove Stinger share price from $1.25 to $48.55 by misrepresenting Stinger's "flagship stun gun product," the SEC claims in Federal Court. Stinger and Gruder falsely claimed that the Bureau of Alcohol, Tobacco and Firearms had certified the gun; that Stinger shares would trade on the NASDAQ, rather than the Pink Sheets; and that the gun was "ready for sale and distribution" though it was not even ready for production, the SEC says. See complaint.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...