October 2014 Archives - Going Public Lawyers

Attorney Kenneth Eade Barred By SEC

Securities Lawyers Gone Wild Series On October 28, 2014, the Securities and Exchange Commission (“SEC”) announced the settlement of an administrative proceeding brought by the agency against Kenneth Eade, a securities attorney licensed to practice in California, but… Read More

Crowdfunding a Texas Intrastate Offering

Securities Lawyer 101 Blog Texas is the latest state to embrace equity crowdfunding.  On October 22, 2014, the Texas State Securities Board approved proposed Rule 139.25, which exempts intrastate securities offerings using crowdfunding.  Rule 139.25 will become effective… Read More

Crowdfunding a Going Public Transaction

The Securities and Exchange Commission (“SEC”) rules for crowdfunding remain in limbo, but 12 states have passed legislation allowing intrastate crowdfunding.  The SEC as well as state securities regulators have provided meaningful guidance addressing intrastate crowdfunding.  One benefit… Read More

Section 12 – Termination of Registration and Trading Suspensions

Securities Law Blog SEC proceedings for registration revocations and trading suspensions have become somewhat common in the microcap markets since the Securities and Exchange Commission (“SEC”) started its Operation Shell Expel initiative.  Proceedings under Section 12(j) are frequently initiated… Read More

How Do I Spin-Off A Subsidiary? Going Public Lawyers

Securities Lawyer 101 Blog A spin-off (“Spin-off”) involves a transaction in which a parent company (“Parent”) distributes securities of its subsidiary (“Subsidiary”) to the Parent’s stockholders so that the Subsidiary becomes a separate, independent company.  Spin-off securities are… Read More

Ebola Stock Scams – FINRA Risk Alert

Securities Law Blog The Financial Industry Regulatory Authority (“FINRA”) recently issued a Risk Alert about Ebola Stock Scams. The Risk Alert warns investors about potential investment scams involving companies that claim to be involved in the development of… Read More

SEC Judgment Entered Against James Crane CFO of Subaye

On October 20, 2014, the Securities and Exchange Commission (the “SEC”) announced a final judgment, in an enforcement action filed by the SEC in May 2013, against James Crane, the former Chief Financial Officer of Subaye, Inc., a… Read More

DTCC Removes Global Lock of Veltex Corporation’s Securities

Effective October 17, 2014, the Depository Trust Company (“DTCC”) has reinstated services for the securities of Veltex Corporation (“Veltex”). Stephen G. Macklem, CFO of Veltex quantified in a statement, “Veltex, thru the retention of the Law Offices of Hamilton… Read More

Founder of iShopNoMarkup Found Guilty

Securities Law Blog On October 14, 2014, a jury in federal court in Central Islip, New York returned a verdict in favor of the Securities and Exchange Commission (the “SEC”) finding the former Chairman of failed Long Island-based… Read More

Going Public Lawyer Bootcamp

The going public process involves a number of steps that vary depending on the characteristics of the private company wishing to go public, and whether it will become a Securities and Exchange Commission (“SEC”) reporting company.  A companies seeking public company… Read More