Memorabilia Auction house in serious legal trouble with SEC

UPDATE: [b]Damages against Universal Express, officers total $25.7 million[/b] As Universal Express prepares to auction off Michael Jackson memorabilia, its legal thriller with the SEC is dancing toward an appeals court. An order by New York Federal District Court Judge Gerard Lynch, filed on April 2, calls for a penalty of $21.9 million against the Boca Raton-based company, $3.1 million against CEO Richard Altomare and $794,711 against corporate counsel Chris Gunderson.

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