Jeff Parker - the grand master of slickness has been named as a defendant! Case 2:11-cv-07549-CCC-JAD
Suit filed 12/28/2011 by MAXTAK CAPITAL ADVISORS LLC,
MAXTAK PARTNERS LP and DAVID GREENBAUM
"This action concerns a fraud committed by ParkerVision, Inc. (“ParkerVision” or the “Company”), Jeffrey Parker, the Company’s Chairman and Chief Executive Officer(“Parker), and Robert G. Sterne, a director of ParkerVision and partner of Sterne, Kessler, Goldstein & Fox PLLC, the Company’s patent counsel (“Sterne”), during the period from March 2007 through December 2008 (the “Relevant Time Period”)"
"As Plaintiffs detail below, Defendants committed and accomplished their fraudulent scheme by (a) making false statements that convinced Plaintiffs and other ParkerVision investors that the Company’s primary product, the “d2p” transmitter-power amplifier, produced significant power savings benefits when employed in telephones and other
wireless devises, (b) misrepresenting and concealing the actual nature of the business relationships that existed between ParkerVision and its supposed key customers, the original equipment manufacturers (“OEMs”) of handsets and other wireless devices, by creating the illusion and expectation that these potential customers had favorably received ParkerVision’s technology and would enter into contracts with the Company to license that technology, (c)
misrepresenting the Company’s financial results, and (d) misrepresenting the Company’s prospects for developing profitable sales of its d2p technology. Each aspect of the fraud was carefully orchestrated and coordinated by the Defendants to create the false illusion that the Company possessed viable, tested, cutting-edge technology that was ready for market and that significant OEMs were actively pursuing.
Available on PACER if anyone wants more.
I believe they do have a viable technology. When their consumer products came out years ago, they easily bested everything else when it came to range. Though I will say it seems most of the devices they made failed after a couple of years, whereas other devices kept going as before.
I have not done an in-depth study on radio technology, I am only reporting from personal experience and my experience installing their equipment for customers. If they still sold the equipment today, I would still be buying it.
Well, maybe he was literally "intellectually blown away", leaving insufficient brain cells to have any further thoughts. After all, his associates wrote the patent applications - not him. Maybe they farmed the work out to India.
I wonder if Farmwald or Laskar are affiliated with them!
On December 20, 2010, pursuant to a settlement offer submitted by MCA and Petak, MCA and Petak were ordered to withdraw from NFA membership and associate membership, respectively, within 60 days of completing the liquidation of Maxtak Partners LP. MCA was further ordered to never again apply for NFA membership or principal status with any NFA Member.
Petak was ordered not to apply for NFA membership, associate membership or principal status for two years from the date of his withdrawal from NFA. In addition, should Petak attain NFA membership or associate membership or become a principal of an NFA Member at any time in the future, he was ordered to pay a $50,000 fine which is due in full within thirty days of attaining any such status.
Thanks for the revelation that one of PRKR's investors was involved in PIPE shenanigans. No scrupulous firm would touch this stock promotion with a ten foot pole - and in my opinion that applies to every entity that ever partook in a PRKR PIPE. Who was involved in the one from March of 2011, Rounder - can you share any inside knowledge?
This case is absolutely a must read for anyone even remotely considering an "investment" in Parkervision stock!!! Here is a tidbit:
"During the call to discuss the first quarter results, Defendants made additional materially misleading representations concerning the ITT contract, ParkerVision’s d2p technology, and the Company’s supposed current and potential customers. With respect to the ITT contract, Parker stated:
'[ITT] have shared with us that they are impressed with the performance and the efficiency of the technology…We are extraordinarily pleased with our progress at ITT… [W]e are bullish on both shorter term as well as the long‑term prospects for our business relationship with them.'"
"ParkerVision announced its second quarter results for 2008 on August 11, 2008. During the call to discuss the second quarter results, Defendants made several materially misleading representations concerning the ITT contract, ParkerVision’s d2p technology, and the likelihood that d2p will be successfully commercialized. With respect to the ITT contract, Parker stated:
'Our engineering team as well as our sales organization, continues to be actively engaged with ITT. ITT continues to invest resources in D2P…We remain confident that ITT and ParkerVision can incorporate the benefits of D2 '