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News and Alerts

01/27/2014

SEC Charges Legg Mason Affiliate With Defrauding Clients

The Securities and Exchange Commission today announced sanctions against a California-based investment adviser for concealing investor losses that resulted from a coding error and engaging in cross trading that favored some clients over others.Read more

01/15/2014

SEC Obtains Settlements in Penny Stock “Shell Packaging” Case

The Securities and Exchange Commission today announced nearly $300,000 in settlements against a Virginia-based “shell packaging” company and its CEO who were charged with facilitating a penny stock scheme as well as a Bronx, N.Y.-based stock promoter who received proceeds from the fraud.Read more

01/09/2014

SEC Charges Diamond Foods and Two Former Executives in Accounting Scheme to Boost Earnings Growth

The Securities and Exchange Commission today charged San Francisco-based snack foods company Diamond Foods and two former executives for their roles in an accounting scheme to falsify walnut costs in order to boost earnings and meet estimates by stock analysts. Read more

12/26/2013

SEC Charges New York-Based Brokerage Firm for Ignoring Red Flags in Soft Dollar Scheme

The Securities and Exchange Commission today announced sanctions against a New York-based brokerage firm for ignoring red flags and paying more than $400,000 in soft dollars for expenses that an investment adviser had not properly disclosed to clients. Read more

12/20/2013

SEC Charges Woman and Stepson for Involvement in ZeekRewards Ponzi and Pyramid Scheme

The Securities and Exchange Commission today announced charges against a woman and her stepson for their involvement in a North Carolina-based Ponzi and pyramid scheme that the agency shut down last year.Read more