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Selected Press Releases

SEC Charges Boiler Room Operators in Florida-Based Penny Stock Manipulation Scheme

01/26/2012

The Securities and Exchange Commission today charged a Fort Lauderdale-based firm and its founder with conducting a fraudulent boiler room scheme in which they hyped stock in two thinly-traded penny stock companies while behind the scenes they sold the same stock themselves for illegal profits.Read more

Diamondback Capital Agrees to Settle SEC Insider Trading Charges

01/23/2012

The Securities and Exchange Commission today announced that Diamondback Capital Management LLC has agreed to pay more than $9 million to settle insider-trading charges brought by the Commission on Jan. 18. The proposed settlement is subject to the approval of Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York. As part of the proposed settlement, the Stamford, Conn.-based hedge fund adviser also has submitted a statement of facts to the SEC and federal prosecutors, and entered into a non-prosecution agreement with the U.S. Attorney’s Office for the Southern District of New York.Read more

SEC Seeks Public Comment for Financial Literacy Study Mandated by Dodd-Frank Act

01/19/2012

The Securities and Exchange Commission today published on its website a request for public comment on financial literacy and investor disclosure issues that it is studying as part of a review mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.Read more

SEC CHARGES ILLINOIS-BASED ADVISER IN SOCIAL MEDIA SCAM

01/04/2012

The Securities and Exchange Commission today charged an Illinois-based investment adviser with offering to sell fictitious securities on LinkedIn and it issued two alerts in an agency-wide effort to highlight the risks investors and advisory firms face when using social media...Read more

SEC Halts Father-Son Ponzi Scheme in Utah Involving Purported Real Estate Investments

12/15/2011

The Securities and Exchange Commission today charged a father and son in Utah with securities fraud for selling purported investments in their real estate business that turned out to be nothing more than a wide-scale $220 million Ponzi scheme.Read more