The Securities and Exchange Commission today announced fraud charges against two former executives of a subprime automobile finance company for misleading investors about the subprime automobile loans that backed its $100 million offering. The SEC’s complaint, filed in U.S. District Court for the Northern District of Illinois, alleges that James […]
Author: Mark J. Astarita
SEC Issues Agenda for Sept. 27 Meeting of the Asset Management Advisory Committee
(function($) { $(document).ready(function() { $(“.submitcommentslink”).click(function(e) { e.preventDefault(); $(“.comment-form”).submit(); }); $(‘.panel-col-last h2.pagelet’).replaceWith(function () {… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544. The Securities Law Blog is a service of SECLaw.com, and Mark Astarita, a national securities lawyer with the law firm […]
SEC’s Small Business Capital Formation Advisory Committee Sets Agenda for September 27 Virtual Meeting.
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee will meet virtually on Monday, Sept. 27 to explore the changing dynamics for pre-IPO companies raising capital and the pathways those companies take to becoming public. During the morning session, the committee will focus on recent trends in “crossover investors”—such as […]
CoinBase Cancels Proposed Lending Program after SEC Scrutiny
As we posted last week, CoinBase’s proposed lending program, where its customers would be able to use cryptocurrency to make loans to third parties raised objections from the SEC. Coinbase objected to the objections in a public statement, claiming it didn’t know what the problem was. There isn’t much public […]
Fraud Charges For Crowdfunding Portal, Issuer, and Related Individuals
It didn’t take long for the SEC to bring fraud charges in the crowdfuning space. Today the SEC charged three individuals and one issuer with conducting a fraudulent scheme to sell nearly $2 million of unregistered securities through two crowdfunding offerings. The SEC also charged the registered funding portal and […]
SEC Awards $11.5 Million to Two Whistleblowers
he Securities and Exchange Commission today announced awards of approximately $11.5 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action. The first whistleblower received an award of nearly $7 million, while the second whistleblower received more than $4.5 million. The larger award […]
SEC Charges School District with Misleading Investors
The SEC charged a San Diego County school district, Sweetwater Union High School District, and its former Chief Financial Officer, Karen Michel, with misleading investors who purchased $28 million in municipal bonds. According to the SEC’s complaint against Michel and its order against Sweetwater, in April 2018, Sweetwater and Michel […]
SEC Surpasses $1 Billion in Awards to Whistleblowers with Two Awards Totaling $114 Million
The Securities and Exchange Commission today announced awards of approximately $110 million and $4 million to two whistleblowers whose information and assistance led to successful SEC and related actions. With these awards, the SEC’s whistleblower program has now paid more than $1 billion in awards to 207 whistleblowers, including over […]
SEC Charges App Annie and its Founder with Securities Fraud
App Annie is a leading alternative data provider for the mobile app industry which claims to have data on over 8 million apps and thousands of websites. It claims to provide its customers with a complete picture of the mobile landscape needed to acquire and retain customers. Unfortunately for the […]
SEC Charges Three Media Companies with Illegal Offerings of Stock and Digital Assets
he Securities and Exchange Commission today charged New York City-based GTV Media Group Inc. and Saraca Media Group Inc., and Phoenix, Arizona-based Voice of Guo Media Inc., with conducting an illegal unregistered offering of GTV common stock. The SEC also announced charges against GTV and Saraca for conducting an illegal […]
