SEC Charges Cognizant and Two Former Executives With FCPA Violations

On February 15, 2019, Cognizant Technology Solutions Corporation has agreed to pay $25 million to settle charges that it violated the Foreign Corrupt Practices Act, and two of the company’s former executives were charged for their roles in… Read More

SEC Charges Former Executives of Lucent Polymers, a Plastics Manufacturer with Fraud

On February 12, 2019, the SEC charged two former high-ranking executives,  of an Indiana-based plastics manufacturer with concealing from potential buyers of the manufacturer the fact that the company’s core business model was a sham. According to the… Read More

SEC Obtains Final Judgment Against Ponzi Scheme Targeting Retail Investors

The SEC obtained a final judgment on February 8, 2018, against Niket Shah, a New Jersey resident who was charged last year by the agency with stealing more than $250,000 in a Ponzi scheme in which his friends… Read More

The Cato Institute Files Action Challenging SEC Gag Orders

On January 9, the Cato Institute filed suit against the Securities & Exchange Commission (the “SEC”), its chairman Jay Clayton, and its secretary Brent J. Fields.  For decades, questions have been raised, and criticisms offered, of the SEC’s longstanding practice of… Read More

SEC Charges Robert Alexander, Founder of Online Gaming Company for Defrauding Investors

On February 7,2019, the SEC charged Robert Alexander with fraudulently raising approximately $9 million from more than 50 individuals by selling investments in Kizzang LLC, a purported online gaming business. According to the SEC’s complaint, among other misrepresentations,… Read More

Due Diligence in Accredited Crowdfunding Offerings – Securities Lawyer 101

Even though Accredited Crowdfunding Offerings are exempt under Rule 506(c) and no specific disclosure requirements apply, under most circumstances, the anti-fraud provisions mandate disclosure of certain information to investors

SEC Files Subpoena in Possible Market Manipulation Scheme

The SEC filed a subpoena enforcement action against three penny-stock companies and their CEO – Cherubim Interests, Inc., PDX Partners, Inc., Victura Construction Group, Inc., and Patrick Jevon Johnson – seeking an order directing them to comply with… Read More

SEC Charges Taiwan-Based Insurance, China United with Fraudulent Market Manipulation Scheme

A Taiwan-based insurance company, China United Insurance Service, Inc. and one of its former managers have agreed to settle fraud charges brought by the SEC relating to a scheme to manipulate the company’s trading volume. The complaint alleges that,… Read More

SEC Obtains Judgment Against Former CEO John Place

On November 9, 2018, the SEC obtained a judgment against John Place, a former CEO of a brokerage consulting business who was charged by the SEC in August for his role in a multimillion dollar transition management fraud…. Read More

SEC Obtains Asset Freeze Against Former CEO Charged with Misappropriating Investor Funds

The SEC announced on December 14, 2018 charges against Thomas Laws, the former CEO of Santa Fe Gold Corporation, for the misappropriation of investor funds. The SEC also obtained an asset freeze against Thomas Laws. The SEC’s complaint, unsealed… Read More

SEC Sues Orange County Investment Adviser, Craig Arsenault for Defrauding Clients

On December 14, 2018 the SEC charged Craig Arsenault, a California investment adviser with misappropriating client funds and misleading his clients about how their money was invested and how their investments were performing. The SEC is seeking an… Read More

SEC Obtains Final Judgment Against Gregory Webb, a Chicago Tech Executive

The SEC has obtained a final judgment against Gregory Webb, the former Chairman and CEO of a company purportedly in the homeland security business. In October 2011, the SEC charged  Gregory E. Webb, the Chairman and CEO of InfrAegis,… Read More

Form S-1 Registration Statement Filings – Securities Lawyers – Going Public

Form S-1 registration statement filings are used by companies seeking to raise capital and go public.  The Form S-1 filing …

SEC Files Subpoena Enforcement in Possible Market Manipulation Scheme

The SEC filed a subpoena enforcement action against NVC Fund LLC and its principal, Frank Ekejija, seeking an order directing them to comply with an investigative subpoena for documents and testimony. According to the SEC’s application, filed on… Read More

The SEC Declared A Cease and Desist Proceedings with CoinAlpha Advisors LLC.

On December 7, 2018, CoinAlpha Advisors LLC  submitted an Offer of Settlement, which the SEC has determined to accept. CoinAlpha Advisors LLC consented to the Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making… Read More

SEC Voluntary Dismisses All Claims Against Jesse Litvak

On December 6, 2018, the U.S. District Court for the District of Connecticut entered an order dismissing, with prejudice, the U.S. Securities and Exchange Commission’s complaint against Jesse Litvak. The court’s order was based on the SEC’s motion… Read More

SEC Charges Technology Fund Adviser, Founder in Fraudulent Scheme

The SEC charged Michael Rothenberg, the founder of San Francisco-based venture capital funds and his investment advisory firm with overcharging investors to fund personal projects, including sending millions of dollars to his own virtual reality production company. The… Read More

SEC Charges Network Marketer with Masterminding a Multimillion Dollar Ponzi and Pyramid Scheme

The SEC has charged Eric “EJ” Dalius and seven corporate entities that he controlled with defrauding investors through the promotion and operation of a multimillion dollar Ponzi and pyramid scheme. The SEC alleges that Eric “EJ” Dalius, who… Read More

SEC Charges Self-Described Promoter with Microcap Market Manipulation Scheme

On November 29, 2018, the SEC charged Eric Landis, a self-described penny stock promoter and an entity he controlled with orchestrating a scheme to manipulate trading in at least 97 microcap stocks. According to the SEC’s complaint, Eric… Read More

SEC Accepts Settlement Offer Against Ricardo Goldman

On November 29, 2018, the SEC determined to accept the Offer of Settlement which was submitted by Ricardo Goldman. A resident of Miami, Florida,Ricardo Goldman was a broker with an unregistered broker-dealer, American Capital Group. From at least… Read More

SEC Obtains Final Judgement Against Steven Newman

On November 9, 2018, the Honorable Nicholas G. Garaufis of the United States District Court for the Eastern District of New York entered a final judgment against defendant Steven Newman. The final judgment imposes on Newman a permanent… Read More

SEC Charges Four in Fraudulent Microcap Manipulation Scheme Orchestrated Through International Account

The SEC charged Morrie Tobin and three other individuals for their roles in a scheme to profit from the manipulation and illegal sale of stock of two publicly traded companies, Environmental Packaging Technologies Holdings, Inc. and CURE Pharmaceutical… Read More

Hurricane Restoration Company and Executives Settle SEC Accounting Fraud Charges

The former CEO and CFO of a now-defunct Dallas and New Orleans-based disaster remediation and construction business, Home Solutions of America, Inc have agreed to pay disgorgement and penalties to settle accounting fraud charges brought by the SEC…. Read More

SEC Announces Resolution of Civil and Criminal Actions Against Former CFO of Information Technology Company

The Securities and Exchange Commission announced on November 15, 2018, the resolution of three actions against the CFO of a Chicago-area information technology company, who was previously charged by the SEC and the U.S. Attorney’s Office. Dhru Desai… Read More

SEC Announces Settlement in Fraud Case Against Cornelius Peterson

On January 31, 2018, the Commission filed a complaint in the United States District Court for the District of Massachusetts charging Cornelius Peterson and his former colleague, James Polese, with securities fraud for engaging in various schemes to… Read More

SEC Settles Claims Against James V. Mazzo Former Chairman/CEO of Advanced Medical Optics, Inc.

The SEC announced on November 14, 2018, that it has agreed to resolve its insider trading claims against James Mazzo, the former Chairman and Chief Executive Officer of Advanced Medical Optics, Inc.for allegedly tipping information about his company’s… Read More

SEC Charges Mark Burnett, Jeffrey Miller, Christian Romandetti, Frank Sarro, Anthony Vassallo, and Elite Stock Research

On November 15, 2018, the Securities and Exchange Commission  (“SEC”) brought charges against a Long Island, New York-based boiler room previously sued for defrauding elderly and unsophisticated investors. The charges allege that First Choice Healthcare Solutions Inc. CEO Christian Romandetti,… Read More

SEC Awards Almost $4 Million to Overseas Whistleblower

The Securities and Exchange Commission announced that it has awarded nearly $4 million to an overseas whistleblower whose tip led it to open an investigation and whose extensive assistance helped it bring a successful enforcement action. “Whistleblowers, whether… Read More

Press Release SEC Charges Unregistered Sales of Securities Issued Under EB-5 Immigrant Investor Program

The Securities and Exchange Commission announced that an Illinois-based regional center, its CEO, and 37 affiliated limited partnerships have agreed to settle charges related to securities issued under the EB-5 Immigrant Investor Program, which provides foreigners who invest… Read More

SEC Obtains Relief to Fully Reimburse Retail Investors Sold Unsuitable Product By Cadaret, Grant & Co. Inc.

The Securities and Exchange Commission announced it has obtained monetary relief that will fully reimburse retail investors for losses on a leveraged oil-linked exchange-traded note (ETN) that registered representatives of Syracuse, New York-based broker-dealer and investment adviser Cadaret,… Read More