Father-son duo, business associate accused of artificially inflating value of deli to $100M

The United States Securities and Exchange Commission is charging a father and son duo and their business associate with market manipulation for allegedly inflating the price of their company.

News 12 Staff

Sep 28, 2022, 8:49 PM

Updated 624 days ago

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The United States Securities and Exchange Commission is charging a father and son duo and their business associate with market manipulation for allegedly inflating the price of their company.
The trio is accused of “artificially inflating the share price of Hometown International, which operated a New Jersey deli producing less than $40,000 in annual revenue, from approximately $1 per share in October 2019 to nearly $14 per share by April 2021, leading to a grossly inflated market capitalization of $100 million.”
Peter L. Coker Sr., Peter L. Coker Jr., and James T. Patten are all facing charges.
Officials say that the U.S. Attorney’s Office for the District of New Jersey has also filed parallel criminal charges against the trio.


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