Moller M400 Skycar - SEC Complaint

SEC Complaint

In 2003, the Securities and Exchange Commission sued Moller for civil fraud (Securities And Exchange Commission v. Moller International, Inc., and Paul S. Moller, Defendants) in connection with the sale of unregistered stock, and for making unsubstantiated claims about the performance of the Skycar. Moller settled this lawsuit by agreeing to a permanent injunction and paying $50,000. In the words of the SEC complaint, "As of late 2002, MI's approximately 40 years' of development has resulted in a prototype Skycar capable of hovering about fifteen feet above the ground."