Legal
Infamous $100 Million New Jersey Deli Draws Fraud Charges
- Prosecutors say the men manipulated stock price for company
- ‘Pastrami Must Be Amazing,’ Einhorn said in skeptical letter
Your Hometown Deli in Paulsboro, New Jersey.
Source: GoogleThis article is for subscribers only.
Three people involved with a $100 million public company built around a single New Jersey deli were charged with securities fraud and market manipulation.
Federal prosecutors on Monday accused James T. Patten, Peter L. Coker Sr. and Peter L. Coker Jr. of artificially inflating the price of two companies through manipulative trading. One of them was Hometown International Inc., the sole asset of which was “Your Hometown Deli” in Paulsboro, New Jersey, across the Delaware River from Philadelphia’s airport.