Settlement with Former CEO of International Broadcasting Corporation and an Agent of the Company for False Press Releases

Defendant Fleming, the former CEO, allegedly caused International Broadcasting Corporation to issue false press releases about its business operations including nonexistent broadcast affiliations with various radio stations. And later, when defendants were questioned by investors about these supposed affiliations, they allegedly made public misrepresentations live on an International Broadcasting internet radio show to conceal the fact that the original press releases were false. In addition to permanent injunctions, the final judgment prohibits Fleming from acting as the officer or director of any public company.