The federal securities watchdog charged the medical device company and former chairman, president & CEO Scott Haire in June of a pay-to-play plot to induce stock brokers to buy WNDM shares and boost the stock’s price.
The SEC also alleged that Haire timed press releases to coincide with the fraudulent stock buys, aiming to make it appear that the trading activity was generated by positive news.
Now Wound Management says it wants to settle its portion of the case, according to an SEC filing.
"The company, separate from Mr. Haire, is engaged in settlement discussions with the Securities and Exchange Commission concerning a potential settlement of the action against the company, and has requested and obtained an extension of time until Sept. 4, 2012, in which the company is required to answer or otherwise respond to the complaint to allow those settlement discussion to conclude," according to the filing.
In the same filing, Wound Management also said it’s looking to settle a lawsuit filed against it by Tonaquint Inc. over a promissory note.