Tube Media Corporation Case 9/19/2007
According to a press release dated September 19, 2007, the complaint alleges that Tube Media, and certain of its officers and directors, violated the Securities Exchange Act of 1934. During the class period, defendants made false public statements and omitted material information about Tube Media’s failure to pay employee payroll taxes to the government. The Company also failed to account properly on its financial statements for compensation expense. Tube Media currently trades at $0.015.