NEW YORK--(BUSINESS WIRE)--Wynnefield Capital Inc. today issued the following statement of Nelson Obus in response to a jury’s finding at the U.S. District Court for the Southern District of New York that Wynnefield had no liability in a civil complaint filed by the Securities and Exchange Commission.
Text of the statement follows:
“Obviously, I’m gratified that the jury saw through the SEC’s 12-year campaign of regulatory overreach and recognized that we have told the truth. Wynnefield conducts its business legally and ethically. But this isn’t only about me. This is about systematic regulatory overreach without accountability. We need to assure the business community that regulators can’t wrongly force small enterprises to settle, or falsely admit guilt. As a nation, we need to preserve and grow our small business’ entrepreneurial spirit – and protect them from unbridled regulatory overreach. You will be hearing more from me on this topic in the near future. Thank you.”
Wynnefield and Obus were represented by Joel Cohen, Esq., Mary Kay Dunning, Esq., Darcy Harris, Esq. and Genevieve Quinn, of Gibson, Dunn & Crutcher.
ABOUT WYNNEFIELD CAPITAL, INC.
Established in 1992, Wynnefield Capital, Inc. is a value investor specializing in U.S. small cap situations that have company- or industry- specific catalysts.