April 28, 2022

Publicly-traded asset manager Medley Management and its former CEOs, Brook and Seth Taube, have agreed to pay $10 million in civil penalties to resolve SEC charges of making material misrepresentations to investors and clients.  Through multiple public filings dating back to at least 2016, Medley and the Taubes allegedly overstated assets under management, failed to disclose certain risks, and made unfounded projections of Medley’s likely future growth to sway investors toward voting for a merger between Medley and two of its clients.  SEC

Tagged in: Financial and Investment Fraud, Misrepresentations,