Xybernaut controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2017
Securities-law judgment against Edward G. Newman
A final judgment permanently enjoined Newman from specified antifraud violations and barred him from serving as an officer or director of a public company.
2010
Settlement involving Zev Saltsman
Zev Saltsman reportedly resolved parallel allegations through a guilty plea and settlement that included forfeiture and an arrangement to distribute part of the funds to former shareholders.
2007
Federal securities-fraud and money-laundering indictment
Former executives and associates were indicted over allegations that Xybernaut shares were issued below market value in exchange for secret cash kickbacks.
2005
SEC investigation and internal-audit allegations
The Newman brothers were subpoenaed by the SEC over stock-sale issues. An internal audit alleged personal expense charges, undisclosed family hiring, unreported transactions, and interference with internal audits. Both brothers resigned in April 2005.