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News Breaks | | | | November 21, 2012 | | 16:13 EDT |  | CCTC | Clean Coal Technologies reaches settlement with SEC
Clean Coal Technologies announced that it has reached a settlement in a case filed by the Securities and Exchange Commission, SEC, on June 4 in the United States District Court for the Southern District of Florida against Clean Coal and its former CEO and president, Douglas Hague, alleging involvement by Mr. Hague in two fraudulent transactions of restricted stock in 2009 during his time as CEO and president of Clean Coal. Under the terms agreed to by Clean Coal and the SEC, Clean Coal, without admitting or denying liability, would pay a civil penalty of $25,000 and would be permanently enjoined from violating certain securities laws. The settlement remains subject to approval by the United States District Court for the Southern District of Florida, which must approve its terms and enter the final judgment | |
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