The Securities and Exchange Commission has filed an injunction against two Canadian residents, alleging that they issued false press releases.

The action was brought against Robert Papalia and David Hunter, of Vancouver, alleging that issued fake releases about Nano World Projects Corp.’s business dealings with Fiat Group and other companies, and that Papalia caused the company to file a false report about the acquisition of a company and to fail to file periodic reports.

The commission alleges that Papalia and Hunter violated the anti-fraud provisions of U.S. securities laws and that Papalia also aided and abetted Nano World’s violations of the periodic reporting provisions of the laws.

The SEC is seeking an injunction, civil penalties, and an officer and director bar. A trial will be scheduled to determine whether the allegations are true and what if any sanctions should be imposed.

In a separate action, the SEC instituted administrative proceedings against Nano World to determine whether the registration of its securities should be revoked or suspended in light of the allegations that it submitted a false filing and failed to make quarterly and annual filings.