The Securities & Exchange Commission filed a civil complaint in federal court against safety device and software maker Revolutions Medical (PINK:RMCP) over handful of allegedly "misleading press releases" the company issued in 2010 and 2011, according to regulatory filings.

Revolutions plans to "vigorously defend" itself and CEO Rondald Wheet, who was named as a co-defendant in the SEC’s case, against what it called "unfounded allegations" and a lawsuit it claims is driven by the false testimony of a pair of individuals that the company has previous legal actions against.

"The company is deeply disappointed by the SEC’s decision to pursue these unfounded allegations and rejection of the company’s good-faith efforts to settle this dispute," according to Revolutions filings.

The device maker claimed that "the SEC acted irresponsibly" by relying too heavily on the testimony of one individual, Rich Theriault, who was recently sued by Revolutions Medical for fraud and RICO Act violations, among other claims.

Revolutions also believes that the federal watchdog agency’s investigation was spurred by "malicious and libelous letters" written by Philip "Marty" Hicks, who was found guilty of libel against the company and its CEO.

The allegedly fraudulent press releases related to Revolutions Medical’s production of retractable safety syringes, and the complaint names company CEO Rondald Wheet as a co-defendant.

The SEC wants Revolutions Medical and Wheet to return any money received from equity financings during the period in which the press releases were issued, which includes August, September and October of 2010 and July 2011, according to an SEC filing.

RMCP shares were up 11.1% today, trading at 1¢ as of about 12:40 p.m.