Arizona Court Upholds SEC Action Against Janus Spectrum, Partners
The U.S. District Court for Arizona said the SEC is entitled to summary judgment against Glendale, Arizona-based Janus Spectrum and others for allegedly defrauding investors by offering to help clients apply for licenses in the 800 MHz expansion and guard…
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bands, claiming "money from thin air" when the potential payoff was likely very small. The SEC filed in the federal court in April 2015 (see 1504070034). The action was taken against Janus Spectrum, David Alcorn Professional Corp. and Kent Maerki, said an order in docket CV-15-609-PHX-SMM. “The Court has reviewed and considered all of the pleadings and finds that the SEC is entitled to summary judgment.” The parties couldn’t be reached for comment. “It may serve to influence those who may be thinking about launching similar efforts to think twice before they trade in spectrum under false promises,” Mark Crosby, president of the Enterprise Wireless Alliance, told us.