Business
SEC Litigation Settlement with CEO
SEC Litigation Settlement with CEO.
About this update from Ingen Technologies Inc
[{"type":"text","content":" On February 14, 2011, United States District Judge, Patricia A. Seitz, signed the Judgment of Permanent Injunction and Other Relief as to Defendant Scott Sand, regarding the SEC enforcement action that was filed in Florida on October 7, 2010. Scott Sand, the Defendant, has settled this matter with the Securities and Exchange Commission regarding the Civil Action filed on October 7, 2010, Civil Case No. 10-23602-CIV-Seitz/O'Sullivan.Ingen's Board of Directors appointed Thomas J. Neavitt as interim CEO. The appointment is for a period of 90 days. He replaces Scott R. Sand, who resigned his positions of Chairman and CEO, although Mr. Neavitt will not be a member of our Board of Directors. Both of these actions occurred on February 14, 2011. Mr. Gary Tilden was elected Chairman of the Board of Directors, at least for the next 90 days. He was also appointed Secretary. Additionally, our Board of Directors appointed Scott R. Sand as President of our subsidiary, Ingen Technologies, Inc. (a Nevada corporation). Updated corporate information has been filed with the State of Georgia, Secretary of State, reflecting the applicable changes above. The company has filed a copies of these documents on OTC Market's Supplemental Information on February 15, 2011, and an 8-K was filed with the SEC Filings on February 14, 2011.","length":2733,"tagName":"div"}]