January 2014 Archives - Going Public Lawyers

SEC Charges College Professor, Gonul Colak, in Naked Short Selling Scheme

Securities Lawyer 101 Blog On January 31, 2014, the Securities and Exchange Commission charged two Florida college professors with perpetrating a complex naked short selling scheme for more than $400,000 in illicit profits.

Going Public For Canadian Issuers – Multijurisdictional Disclosure System

Securities Lawyer 101 Blog The Multijurisdictional Disclosure System was adopted in July 1991 by the U.S. Securities and Exchange Commission (“SEC”) and the Canadian Securities Administrators to facilitate cross-border public offerings of securities between the U.S. and Canada…. Read More

SEC Suspends Hi Score and OLIE After Janice Shell Research Report

Securities Lawyer 101 Blog On January 27, 2014, the Securities and Exchange Commission (the “SEC”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities… Read More

David Kevin Lewis Sentenced to 30 Years for Oil and Gas Fraud

On January 24, 2014, a Texas court sentenced David Kevin Lewis, 52, to 30 years in federal prison for 23 counts of securities fraud and conspiracy and ordered to pay approximately $2.5 million in restitution, following his conviction…. Read More

Felon Barry Minkow Becomes Pastor and Cons Church Congregation Out of Millions

Securities Lawyer 101 Blog Last week, Barry Minkow pleaded guilty to embezzling funds from the San Diego Community Bible Church, a U.S. attorney’s statement said.  Minkow was already serving a five-year sentence for securities fraud. According to the… Read More

SEC Provides Additional Guidance For Rule 506(c) Offerings

Securities Lawyer 101 Blog On January 23, 2014, the Securities and Exchange Commission (the “SEC”) issued new guidance concerning Rule 506(c) in its Compliance and Disclosure Interpretations. In the Compliance and Disclosure interpretations, the SEC addresses Rule 506… Read More

What Is Caveat Emptor? Going Public Lawyers

Securities Lawyer 101 Blog The Latin phrase Caveat Emptor means “let the buyer beware.”  The application of the Caveat Emptor principle is most often applied in the sale of property where a purchaser has a specific period of… Read More

Steven Palladino Sentenced to 10-12 Years

Securities Lawyer 101 Blog On January 24, 2014, the Securities and Exchange Commission (“SEC”) announced that a Massachusetts state court judge sentenced Massachusetts resident Steven Palladino to a prison term in a criminal action filed by the Suffolk… Read More

SEC Target Held In Contempt and Arrested

Securities Lawyer 101 Blog On January 23, 2014, the Securities and Exchange Commission (“SEC”) announced that a Staten Island man who was a SEC enforcement target was held in contempt of court and arrested for failing to comply… Read More

Investment Advisor Impersonates Angel Investors to Get Clients

Securities Lawyer 101 Blog Kimberly Fontenot of Texas has been convicted of defrauding clients of her so-called investment advisory firm, Stellar Grants Inc. According to the FBI, Fontenot lured potential clients by falsely claiming to know numerous wealthy… Read More