Jack Howard Accused of Insider Trading Relating to Purchase of Gateway Industries, Inc. Stock
Jack Lawrence Howard purchased stock while in possession of material nonpublic information, according to a complaint filed by the Financial Industry Regulatory Authority’s Department of Market Enforcement.
Howard purchased shares of Gateway Industries, Inc., a publicly traded, non-SEC registrant shell company for which he served as CEO and Chairman of the Board, after he recommended Gateway to an investment banker who approached Howard looking for a shell company into which her client could conduct a reverse merger, according to the complaint.
When the transaction with the banker’s client was announced, Gateway’s share price rose from 1 cent to $1.89, according to the complaint.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: Jack Lawrence Howard
Status: INVESTIGATED by Peiffer Rosca.
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