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News and Alerts

04/23/2014

SEC Issues Stop Order to Prevent Northern California Company From Issuing Stock Under Amended Registration Statement

The Securities and Exchange Commission today issued a stop order to prevent a Northern California-based company from issuing stock after including false and misleading information in its amended registration statement for an initial public offering (IPO).Read more

04/21/2014

SEC Charges a Former Biopharmaceutical Company Executive and Two Others with Insider Trading

Washington D.C. — The Securities and Exchange Commission today charged a former biopharmaceutical company executive and two others with insider trading on confidential information about the company’s key developmental drug. The company’s stock price fell sharply when it announced clinical trial results for the drug.Read more

04/17/2014

SEC Halts Pyramid Scheme Targeting Dominican and Brazilian Immigrants

The Securities and Exchange Commission today announced that on Tuesday it filed charges against the Massachusetts-based operators of a large pyramid scheme that mainly targeted Dominican and Brazilian immigrants in the U.S. The charges were filed under seal, in connection with the Commission’s request for an immediate asset freeze. That asset freeze, which the U.S. District Court in Boston ordered on Wednesday, secured millions of dollars of funds and prevented the potential dissipation of investor assets. After the SEC staff implemented the asset freeze, at the SEC’s request the court lifted the seal today, permitting public announcement of the SEC’s charges.Read more

04/17/2014

SEC Charges Former BP Employee with Insider Trading During the Deepwater Horizon Oil Spill

The Securities and Exchange Commission today charged a former 20-year employee of BP p.l.c. and a senior responder during the 2010 Deepwater Horizon oil spill with insider trading in BP securities based on confidential information about the magnitude of the disaster. The price of BP securities fell significantly after the April 20, 2010 explosion on the Deepwater Horizon rig, and the subsequent oil spill in the Gulf of Mexico, resulted in an extensive clean-up effort.Read more

04/15/2014

SEC Charges San Diego-Based Investment Adviser

The Securities and Exchange Commission today announced charges against a San Diego-based investment advisory firm, its chief executive officer, chief compliance officer, and another employee for misleading investors and breaching their fiduciary duties to clients.Read more