The Securities and Exchange Commission has agreed to settle a civil lawsuit against a man accused of five separate penny stock pump-and-dump schemes, court filings revealed on Friday. The man, David Ferraro, is accused of using his prolific Twitter account to assist a second defendant, former federal fugitive Justin Costello, on the stock schemes. But the indictment refers to Costello's unidentified, unindicted co-conspirator with Ferraro's initials, engaging in the same conduct that the SEC complaint alleges. Ferraro agreed to settle the SEC's case without admitting or denying the allegations. A judge still needs to sign off on the SEC's proposed agreement to close the case, which doesn't apply to Costello.

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