Securities and Exchange Commission v. Miller

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MARYLAND SECURITIES & EXCHANGE * COMMISSION, * Plaintiff, * v. Civ. No. DLB-19-2810 * ROBERT HILLIS MILLER, * Defendant. MEMORANDUM OPINION In this civil enforcement action, the Securities and Exchange Commission (“SEC”) obtained a jury verdict against Robert Hillis Miller, Chief Executive Officer (“CEO”) and founder of Abakan, Inc. (“Abakan”), a publicly traded penny-stock company. The jury found that Miller violated federal securities laws when he failed to disclose to Abakan investors his beneficial ownership of Abakan stock that was…