SEC

SEC Files Settled Action Alleging Battle Motors and its CEO Misled Investors

By the Constantine Cannon Whistleblower Team The SEC recently filed a settled action alleging that vehicle manufacturer Battle Motors, Inc. and its CEO and Chairman, Michael W. Patterson, misled investors in connection with a convertible debt offering by overstating Battle’s performance metrics.  This case serves as another example that SEC enforcement actions are not limited to massive publicly traded...

And Yet Another Round of SEC Whistleblower Awards

By the Constantine Cannon Whistleblower Team It was just two weeks ago that we reported that the Securities and Exchange Commission (SEC) made a round of awards in June under the SEC Whistleblower Program, including a rather hefty $20 million award.  As we noted, that round followed a steady stream of SEC whistleblower payouts over the past year — six awards on April 7 and 8; five awards on September 29 and...

SEC Files Settled Action Against Day Trader for Alleged Spoofing Scheme

By the Constantine Cannon Whistleblower Team The Securities and Exchange Commission (SEC) recently filed a settled action against Mingran Wang, a day trader based in California, for allegations he engaged in a market manipulation and spoofing scheme that resulted in over $1.3 million in gains.[1]  Under the settlement, Wang consented to certain injunctive relief and the court will determine disgorgement,...