The Sec Wants Parilla Fined And Banned From Participating In The Sale Of Penny Stock, Which Typically Sells For Less Than $1 A Share.parilla Said In His Dismissal Motion That He Is A Victim And Did Nothing Wrong.

The SEC filed the motion for default against Parilla for the same reason it filed one against Fortitude because the defendants failed to properly respond to the suit the SEC filed against them on Feb. 29, 2016. Fortitude never filed a response. Marijuana Stocks Parilla, representing himself, filed a five-page motion in April asking to dismiss the case. The motion was in the form of a letter rather than the proper format for civil filings, and the SEC said the motion was without”any cognizable argument.” Baxter in December ordered Parilla to file a proper motion to dismiss by Jan. 13. He did not, which led the SEC to ask for a default judgment. In granting the default judgment against Fortitude, Rothstein permanently enjoined the company from violating SEC rules against providing false and misleading statements. The SEC wants Parilla fined and banned from participating in the sale of penny stock, which typically sells for less than $1 a share.Parilla said in his dismissal motion that he is a victim and did nothing wrong. He could not be reached for comment on Friday.

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