EC v. Presstek, Inc. and Edward J. Marino, Case No. 1:10-cv-10406 (D. Mass.).  On May 15, 2012, the SEC announced that Edward J. Marino agreed to settle the SEC’s charges that he aided and abetted Presstek’s violations of Section 13(a) of the Securities and Exchange Act and Regulation FD which generally prohibits public companies from selectively disclosing material non-public information to certain investors without simultaneously disclosing it to all investors. The SEC originally filed its case in March 2010.  The SEC alleged that in September 2006, Marino received an email from Presstek’s controller advising of the company’s weak performance during the third quarter of 2006.  About two weeks later, Marino discussed Presstek’s performance with a friend who was the managing partner of an investment adviser registered with the SEC that held nearly a half million shares of Presstek.  Almost immediately after receiving the information, the managing partner sold virtually all of the shares of Presstek stock.  Presstek publicly disclosed the information a day later when the company issued a preliminary announcement reporting its financial performance was below its prior estimates for the quarter.  Without admitting or denying the Commission’s allegations, Marino consented to the entry of a civil judgment requiring him to pay a $50,000 civil penalty.  He also agreed to the issuance of an administrative order finding that he caused Presstek’s violations and ordering him to cease and desist from committing or causing any violations and any future violations of Section 13(a) of the Exchange Act and Regulation FD.  At the time the case was originally filed, Presstek agreed to settle by consenting to a judgment that enjoined the company from further violations of Section 13(a) of the Exchange Act and Regulation FD and ordered it to pay a $400,000 civil penalty.