CONTINGENCY OR BEST EFFORTS OFFERING: Securities and Exchange Act Rules 10-b9 and 15c2-4 contain requirements that must be satisfied in “Contingency” or “Best Efforts” offerings. FINRA (the Financial Industry Regulatory Authority) has provided guidance to broker/dealers regarding the requirements of these rules and to remind broker-dealers of their responsibility to…
A Pure Bill of Discovery is an equity pleading which is granted pursuant to the Court’s auxiliary jurisdiction. A Court’s jurisdiction usually consists of the right to decide a case or controversy between parties; however, Florida Courts, also have the auxiliary power and jurisdiction to enter orders that a person…
Bitcoin Ponzi Scheme – South Florida Securities Fraud and Misrepresentation State and Federal Court Litigation Attorney Securities and Exchange Commission v. Homero Joshua Garza, Civil Action No. 3:15-cv-01760 (D. Conn., Complaint filed Dec. 1, 2015) SEC Charges Bitcoin Mining Companies The Securities and Exchange Commission recently charged two Bitcoin mining companies…
Unlawful Reimbursement of Customer Losses – Boca Raton, Florida FINRA Arbitration and Litigation Attorney: The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event…
T + 3 – Settlement of Security Transactions – Boca Raton, Lake Worth and North Palm Beach, Florida Securities Litigation and Arbitration Attorney What is meant by T+3? Generally, investors must complete or settle their security transactions within three business days. This settlement cycle is known as “T+3,” shorthand for “trade…
Securities and Exchange Commission v. Caledonian Bank Ltd., et al., Civil Action No. 15-CV-00894 The Securities and Exchange Commission has charged five offshore entities with offering and selling unregistered penny stocks into the public markets. According to the SEC’s complaint filed on February 6, 2015, Cayman Islands-based, Caledonian Bank Ltd.…
South Florida Investment Fraud and Misrepresentation Litigation and Arbitration Attorney: SEC Charges Oppenheimer With Securities Law Violations Related to Improper Penny Stock Sales The Securities and Exchange Commission recently charged Oppenheimer & Co. with violating federal securities laws while improperly selling penny stocks in unregistered offerings on behalf of customers.…
Boca Raton, Florida Securities and Investment Fund Fraud and Misrepresentation Litigation and Arbitration Attorney: Securities and Exchange Commission v. Frederic Elm f/k/a Frederic Elmaleh, et al., Case No. 15-cv-60082-DIMITROULEAS/SNOW SEC Charges Investment Adviser and Manager in South Florida-Based Fraud The Securities and Exchange Commission recently announced fraud charges and an…
Efstratios D. Argyropoulos and Prima Capital Group, Inc. – Boca Raton, Florida Stock Promoter Fraud and Misrepresentation Attorney Securities and Exchange Commission v. Efstratios “Elias” D. Argyropoulos and Prima Capital Group, Inc., Civil Action No. 2:14-cv-09800 (C.D. Cal.) SEC Charges Stock Promoter with Fraudulent Scheme Related to Pre-IPO Facebook and…
False and Misleading Press Releases and Marketing Material (Pump and Dump) – Boca Raton, Florida FINRA Arbitration and Litigation Attorney SEC Charges Penny Stock Company Executives in New Jersey With Issuing False Press Releases to Inflate Stock Price The Securities and Exchange Commission recently charged father-and-son executives at a New Jersey-based penny…