Securities Fraud
This archive displays posts tagged as relevant to securities fraud. You may also be interested in the following pages:
Top Ten Environmental Fraud Settlements of 2019
Posted 01/17/20
January 13, 2020
San Francisco-based fund advisor Michael Rothenberg has been ordered to pay more than $31 million for misappropriating millions of dollars in client funds. Instead of investing clients funds in emerging technology, the head of Rothenberg Ventures LLC allegedly funneled it toward personal business ventures and events, in violation of the antifraud provisions of the Investment Advisers Act of 1940. As part of the settlement, Rothenberg has also agreed to be barred from the securities industry for five years. SECJanuary 9, 2020
Registered broker-dealer and investment adviser J.P. Morgan Securities LLC will refund over $16 million to customers, and pay penalties and interest of $1.8 million to resolve claims that the company failed to provide certain retail retirement account and charitable organization brokerage customers with sales charge waivers and lower fee share classes when selling certain mutual funds to them. SECSEC Whistleblower Program 2019 Annual Report Tells Story of Significant Impact - Despite Beginning the Year with a Government Shutdown
Posted 12/12/19
December 12, 2019
Two oil and gas executives have settled insider trading charges with the SEC by agreeing to pay nearly $6 million in civil penalty, disgorgement, and prejudgment interest. The two, John Davidson and John Special, allegedly purchased shares of medical device company, Covidien PLC, upon learning non-public information about a potential merger with Medtronic PLC. When news of the merger was officially released, investment accounts controlled by the men earned over $1 million in illicit gains. SECDecember 9, 2019
Colorado resident Jeffrey O. Friedland and two companies associated with him, Intiva Pharma LLC and Global Corporate Strategies LLC, have entered into a $4.2 million settlement -- $2.1 million in disgorgement plus a $2 million penalty and prejudgment interest -- with the SEC, resolving charges that Friedland and his companies fraudulently promoted the stock of cannabis company OWC Pharmaceutical Research Corp. Friedland and his companies were alleged to have misrepresented their ownership interest in OWC, as well as Friedland's compensation in OWC stock in exchange for his promotion of the shares. SECNovember 15, 2019
Three whistleblowers who jointly submitted a tip to the SEC were awarded $260,000. The information provided by the unidentified whistleblowers lead to a successful enforcement action against a fraud that targeted retail investors. The whistleblowers were reported to be investors who were themselves harmed by the conduct. SECSecond Circuit Upholds SEC Denial of Whistleblower Rewards to Three Claimants in Deutsche Bank Settlement
Posted 11/13/19
