Tuesday, September 14, 2004

The final nail in Stan Lee Media: Reuters reports the Securities and Exchange Commission has revoked the stock registration of bankrupt Stan Lee Media, barring public trading of its shares on the over-the-counter market listing known as the pink sheets.

The company was delisted from the Nasdaq in December 2000, when it suspended operations and laid off most of its staff, only to file for bankruptcy a month later. Stan Lee Media co-founder Peter Paul was indicted in June 2001 with several other company executives in an elleged $25 million scheme to manipulate the value of company stock. In September 2003, he pleaded not guilty to securities fraud charges. Lee hasn't been accused of any wrongdoing.