National Lampoon CEO gets 45 months for conspiracy, IBN Live News

National Lampoon CEO gets 45 months for conspiracy

| 10:50 PM,Sep 08,2010

PHILADELPHIA (AP) — The former CEO of entertainment company National Lampoon Inc. has been sentenced in Philadelphia to nearly four years in prison in a stock price manipulation scheme.Federal prosecutors say 48-year-old Daniel Laikin plotted to artificially inflate the company's stock price by paying people to buy shares. They dropped a count of securities fraud last fall when Laikin pleaded guilty to conspiracy.Prosecutors say Laikin and others hoped to push the share price from $2 to $5 to boost the company's attractiveness in a strategic partnership or acquisition. They say the company was removed from the American Stock Exchange and its share price plummeted.The company owned the rights to the "Vacation" and "Animal House" movies.Laikin was sentenced Wednesday to three years and nine months.

CNN name, logo and all associated elements ® and © 2012 Cable News Network LP, LLLP. A Time Warner Company. All rights reserved. CNN and the CNN logo are registered marks of Cable News Network, LP LLLP,

displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.

Disclaimer: Network18 Media & Investments Limited is proposing, subject to market conditions and other considerations, an offer of its equity shares on rights basis and has filed a Draft Letter of Offer with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the websites of the Lead Managers at www.icicisecurities.com and www.rbs.in Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to "Risk Factors" in the Draft Letter of Offer. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the US Securities Act) except in a transaction exempt from the registration requirements of the US Securities Act and in accordance with any applicable U.S. state securities laws.

Disclaimer: TV18 Broadcast Limited is proposing, subject to market conditions and other considerations, an offer of its equity shares on rights basis and has filed a Draft Letter of Offer with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the websites of the Lead Managers at www.icicisecurities.com and www.rbs.in Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to "Risk Factors" in the Draft Letter of Offer. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the US Securities Act) except in a transaction exempt from the registration requirements of the US Securities Act and in accordance with any applicable U.S. state securities laws.

Latest news

National Lampoon CEO gets 45 months for conspiracy

Follow us