May 2015 Archives - Going Public Lawyers

SEC Inquiries and Investigations

The SEC’s Enforcement Division conducts investigations pursuant to formal Orders of Investigation that authorize the staff of the Enforcement Division to seek the production of relevant information, either in the form of documents or witness testimony.  Although the SEC… Read More

Receiver Appointed in North Dakota Developments Ponzi Scheme

We’ve so far written twice about North Dakota Developments (“NDD”), a real estate Ponzi scheme operated by Daniel J. Hogan and Robert L. Gavin.  In the course of the scam, Gavin and Hogan, who are United Kingdom citizens,… Read More

Do I Have To Amend My Form D? Going Public Attorneys

When a company decides to raise money in a Regulation D offering as part of its going public transaction, it must file a Form D – Notice of Sales with the Securities and Exchange Commission Rule 504, 505… Read More

Douglas Parigian Pleads Guilty in Amateur Golfers Scheme

On May 13, 2015, the Securities and Exchange Commission (SEC”) announced that Douglas Parigian pled guilty to criminal charges of conspiracy and securities fraud for his role in an insider trading ring involving trading in the stock of American… Read More

EDGAR Prepares For Regulation A+ – Going Public Attorneys

The SEC’s EDGAR system is being updated to prepare for Regulation A+. On April 23, 2015, the SEC adopted changes to Volume I and Volume II of the EDGAR Filer Manual. Revisions include: The revisions to the SEC’s EDGAR filer manual reflect… Read More

SEC Says North Dakota Developments Is A Ponzi Scheme

On May 5, 2015, the Securities and Exchange Commission (“SEC”) obtained a temporary restraining order against North Dakota Developments, LLC (“NDD”), Robert L. Gavin and Daniel J. Hogan in connection with an elaborate real estate development Ponzi scheme… Read More

What Is DTC Eligibility? Going Public Attorneys

DTC’s eligibility creates liquidity for companies after a going public transaction. DTC’s Issue Eligibility program allows newly issued securities as well as secondary offerings that meet DTC’s eligibility criteria to become eligible for the depository and book-entry services… Read More

Morgan Stanley Fined $2 Million for Short Sale & Short Interest Reporting

On May 3, 2015, The Financial Industry Regulatory Authority (FINRA) announced it has fined Morgan Stanley & Co. $2 million for short sale and short interest reporting and rule violations that spanned a period of more than six years,… Read More

SEC Halts Advance Fee Scam Targeting Home Building Industry

On May 15, 2015, the Securities and Exchange Commission (SEC) announced charges and an emergency asset freeze in an alleged advance fee scam involving bogus prime bank instruments. The SEC complaint was filed on  May 11, 2015, in… Read More

Steven Palladino Pleads Guilty to Criminal Contempt for Violating SEC Orders

On May 14, 2015, the Securities and Exchange Commission (SEC) announced that, Steven Palladino pled guilty to 25 counts of criminal contempt charged by the United States Attorney’s Office for the District of Massachusetts based on his repeated… Read More