The Envit Capital Group Inc. of Boston has issued a letter to National Lampoon, the company famous for "Animal House" and the "Vacation" movie franchise, informing National Lampoon that Envit will dissolve its relationship the company immediately.
"We are sorry to hear about the unfortunate SEC investigation into National Lampoon stock price," said Chairman and CEO Edward M. Laborio. "I would just like to inform shareholders of ENVIT Capital that no transactions have taken place between National Lampoon and ENVIT Capital. The tentative agreement of ENVIT Capital to fund National Lampoon will now be void. We would also like to inform ENVIT Capital shareholders that the SEC investigation into National Lampoon does not involve ENVIT Capital."
National Lampoon was charged Monday for its role in a scheme to trick Wall Street investors into thinking there was far more interest in National Lampoon shares than there actually was, according to a Reuters report.