Compudyne: 'Damaged' in FBR Scandal
Friedman Billings Ramsey (FBR) may not be out of the woods yet on a stock sale that already has landed the firm in talks with securities regulators.
The Virginia-based investment outfit still could face potential litigation from Compudyne (CDCY), the Maryland security-systems manufacturer that hired Friedman Billings four years ago to handle the $12 million deal.
Martin Roenigk, Compudyne's chairman and chief executive, says the small-cap company is considering "whatever remedies" are available to it in the wake of the revelation that Friedman Billings and three of the firm's top executives may have engaged in insider trading with regard to the company's 2001 PIPE, or private investment in public equity, deal.
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