Securities and Exchange Commission Charges City of Harrisburg for Fraudulent Public Statements The Securities and Exchange Commission (Commission) recently charged the City of Harrisburg, Pa., with securities fraud for its misleading public statements when its financial condition was deteriorating and financial information available to municipal bond investors was either incomplete…
Securities and Exchange Commission v. City of Victorville, et al., Civil Action No. EDCV 13-776 JAK (DTBx) (C.D. Cal., filed April 29, 2013) SEC Charges City of Victorville, Underwriter, and Others with Defrauding Municipal Bond Investors The Securities and Exchange Commission recently charged that the City of Victorville, Calif., a…
Administrative Proceeding No. 3-15237, Before the Securities and Exchange Commission: The Securities and Exchange Commission recently charged the State of Illinois with securities fraud for misleading municipal bond investors about the state’s approach to funding its pension obligations. An SEC investigation revealed that Illinois failed to inform investors about the…
Securities and Exchange Commission v. Hunter, Civil Action No. 12-cv-3123 (S.D.N.Y.) BRITISH TWIN BROTHERS AGREE TO PAY $175,000 TO SETTLE MICROCAP PUMP-AND-DUMP CHARGES The Securities and Exchange Commission recently announced that brothers Alexander John Hunter and Thomas Edward Hunter, both of Great Britain, have agreed to settle the Commission’s pending…
The Securities and Exchange Commission recently charged three health care company employees and four others in a New Jersey-based insider trading ring of various high school friends generating $1.7 million in illegal profits and kickbacks by trading in advance of 11 public announcements involving mergers, a drug approval application, and…
SEC Charges New York Stock Exchange for Improper Distribution of Market Data NYSE Agrees to Settle Charges by Paying First-Ever SEC Financial Penalty Against An Exchange September, 2012: The Securities and Exchange Commission recently brought first-of-its-kind charges against the New York Stock Exchange for compliance failures that gave certain customers…
SEC Charges Bristol-Myers Squibb Executive With Insider Trading in Stock Options of Potential Acquisition Targets August, 2012: The Securities and Exchange Commission recently charged an executive at Bristol-Myers Squibb with insider trading on confidential information about companies being targeted for potential acquisitions. His illegal trading took place as recently as…
Securities and Exchange Commission v. 3 Eagles Research & Development LLC, Harry Dean Proudfoot III, Matthew Dale Proudfoot, Laurie Anne Vrvilo and Dennis Ashley Bukantis, Civil Case No. 3:12-cv-01289-ST (D. Oregon, filed July 17, 2012) SEC Charges Family-Run Business Promising Investors Stake in Purported $11 Billion Gold Mine July, 2012:…
South Florida Broker/Dealer Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. June, 2012: SEC Charges Florida Broker in Astrology-Based Ponzi Scheme The Securities and Exchange Commission recently charged that a former broker in Orlando, Fla., defrauded investors in an astrology-based Ponzi scheme. The SEC alleges that…
Transfer Agent Fraud and Mismanagement Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. June, 2012: SEC v. Steven H. Bethke, Civil Action No. 4:12-cv-01638 (S.D. Tex., Houston Division, filed June 1, 2012) SEC Charges Controlling Person of Transfer Agent for Misappropriating Share Certificates and Illegally Selling Stock Recently, the…