National Lampoon, Inc. Announces Charges Relating to SEC Investigation

  
    
  
  
    
      National Lampoon, Inc. (NYSE Alternext US: NLN) announced today that on 
      December 15, 2008 the United States Securities and Exchange Commission 
      (the “Commission”) issued a release stating that it had charged seven 
      individuals and two corporations with engaging in three separate 
      fraudulent schemes to manipulate the market for publicly traded 
      securities through the payment of prearranged kickbacks. The defendants 
      include National Lampoon, Inc. and Daniel S. Laikin, the company’s chief 
      executive officer, as well as stock promoters, a consultant, and an 
      officer of another company. Also on December 15, 2008, the United States 
      Attorney for the Eastern District of Pennsylvania separately announced 
      criminal charges involving the same conduct.
    
    
      The Commission’s complaint alleges that, from at least March 2008 
      through June 2008, Mr. Laikin and others engaged in a fraudulent scheme 
      to manipulate the market for the company’s common stock. Specifically, 
      the Commission has charged that Mr. Laikin and others paid kickbacks in 
      exchange for generating or causing purchases of the company’s common 
      stock to a stock promoter and others to give the false impression of a 
      steady demand for the stock.
    
    
      The complaint alleges that Mr. Laikin and others paid at least $68,000 
      to cause the purchase of at least 87,500 shares of the company’s common 
      stock. In addition to paying others to purchase the stock, the complaint 
      alleges that Mr. Laikin shared confidential financial information 
      regarding the company, non-public news releases, and confidential 
      shareholder lists, and coordinated the release of news with the illegal 
      purchases in the stock. The complaint also alleges that the company and 
      Mr. Laikin made materially misleading statements in a tender offer.
    
    
      The complaint alleges violations of Section 17(a) of the Securities Act 
      of 1933, Sections 9(a)(2), 10(b) and 13(e) of the Securities Exchange 
      Act of 1934 and Rules 10b-5 and 13e-4 thereunder. The complaint seeks 
      permanent injunctions against all defendants, disgorgement of ill-gotten 
      gains, together with prejudgment interest, and civil penalties, from the 
      individual defendants, and an officer and director bar against Mr. 
      Laikin.
    
    
      Trading in the company’s common stock has been suspended by the 
      Securities and Exchange Commission through December 29, 2008.