SEC Charges Fuel Cell Company with Defrauding Investors

Posted on February 23rd, 2017 at 8:49 AM
SEC Charges Fuel Cell Company with Defrauding Investors

From the Desk of Jim Eccleston at Eccleston Law LLC:

The SEC charged a California-based penny stock company, along with four corporate officers, with misleading investors about the research, development, and profitability of its purported business to manufacture power generation products such as fuel cells.

Terminus Energy, Inc. raised approximately $7.9 million from investors. The officers claimed to have a viable prototype capable of being sold and earning revenue but in fact did not have the fuel cell technology or the funding to validate their claims. The SEC alleges that the officers instead were converting substantial amounts of investor funds for their own personal use.

The SEC complaint also alleges that the company failed to disclose to investors that Terminus’ operations manager was a convicted felon who went to prison for securities fraud and was barred from participating in penny stock offerings. 

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial investors including Securities FraudUnauthorized TradingBreach of Fiduciary DutyRetirement Planning Negligence, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today. 

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, Eccleston Law LC, James Eccleston, SEC, Fuel Cell Company, defrauding investors, penny stock company, corporate officers, investors, profitability, fuel cells, Terminus Energy Inc, revenue, investor funds,

Return to Archive

TESTIMONIALS

Previous
Next

You guys are good!

Mike L.

LATEST NEWS AND ARTICLES

June 23, 2022
Former Credit Suisse Advisor Prevails in Deferred Compensation Claim

A former Credit Suisse advisor has prevailed on a $2.2 million arbitration claim after alleging that the firm improperly withheld his deferred compensation when it discontinued its U.S. brokerage business in 2015. 

 
 
June 23, 2022
Eccleston Law LLC Investigates Recovery Options for NRIA Investors

Headquartered in Secaucus, NJ, National Realty Investment Advisors (NRIA) recently declared bankruptcy amid investor redemption requests, federal and state investigations, and unsustainable debt.

 
 
June 22, 2022
SEC Charges Three Additional Advisors for Recommending Horizon Ponzi Scheme to Investors

The Securities and Exchange Commission (SEC) has filed suit against Michael Mooney, Britt Wright, and Penny Flippen pertaining to their engagement with a Ponzi scheme, which raised at least $110 million from nearly 400 investors.