Article: SEC Sues Value Line Inc. and Two Senior Officers for $24 Million Fraudulent Scheme.

M2 PRESSWIRE-5 November 2009-US SEC: SEC Sues Value Line Inc. and Two Senior Officers for $24 Million Fraudulent Scheme(C)1994-2009 M2 COMMUNICATIONS

RDATE:04112009

Washington, D.C., -- The Securities and Exchange Commission today charged New York City-based investment adviser Value Line Inc., its CEO, its former Chief Compliance Officer and its affiliated broker-dealer with defrauding the Value Line family of mutual funds by charging over $24 million in bogus brokerage commissions on mutual fund trades funneled through Value Line's affiliated broker-dealer, Value Line Securities, Inc. (VLS).

Value Line, its CEO Jean Buttner, its former Chief ...

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