September 22, 2017

The Securities and Exchange Commission today suspended trading in Grupo Resilient International  amid questions surrounding its statements about sending response teams and equipment to help with Hurricane Harvey disaster recovery efforts in Houston and surrounding areas. The SEC’s trading suspension order says that a recent press release issued by Texas-based Grupo Resilient claimed that the company added a “FEMA approved contractor” to the board of its subsidiary and was deploying workers and preparing to deploy a network of mobile broadband trailers to assist in relief efforts. The SEC’s order also says there are questions regarding the adequacy and accuracy of statements made by the company on other matters in prior press releases.  Grupo was previously known as Paradise Ridge Hydrocarbons and trades under the ticker symbol GRUI. SEC

Tagged in: Misrepresentations, Regulatory Violations, Securities Fraud,