Investor Alert: Watch Out for Fraudulent Digital Asset and “Crypto” Trading Websites

The SEC’s Office of Investor Education and Advocacy (OIEA) and the Commodity Futures Trading Commission’s Office of Customer Education and Outreach (CFTC) warn investors to scrutinize investment opportunities through websites purporting to operate advisory and trading businesses related to digital assets.  These websites often contain “red flags” of fraud including claims of high guaranteed returns […]

FTC Charges Surescripts with Illegal Monopolization of E-Prescription Markets

The Federal Trade Commission sued the health information company Surescripts, alleging that the company employed illegal vertical and horizontal restraints in order to maintain its monopolies over two electronic prescribing, or “e-prescribing,” markets: routing and eligibility. The FTC’s complaint against Surescripts, filed in federal court on April 17, 2019, is the latest example of the […]

FTC Alleges Operators of Two Commercial Websites Failed to Protect Consumers’ Data

The operators of an online rewards website and a dress-up games website have separately agreed to settle Federal Trade Commission allegations that they failed to take reasonable steps to secure consumers’ data, which allowed hackers to breach both websites. In a complaint filed by the Department of Justice on behalf of the Commission, the FTC alleged […]

Eric D. Lyons, et al.

The Securities and Exchange Commission yesterday obtained an emergency asset freeze and temporary restraining order to halt an ongoing fraudulent securities offering by Eric D. Lyons, a Massachusetts resident, in an attempt to conceal his misappropriation from certain hedge funds Lyons advised through his Massachusetts-based investment advisory businesses. According to the SEC’s complaint, from mid-2017 […]

Deposit Insurance Coverage Seminars

FIL-23-2019 April 23, 2019 Deposit Insurance Coverage Seminars Free Nationwide Seminars for Bank Officers and Employees Printable Format: FIL-23-2019 – PDF (PDF Help) Summary: The FDIC will conduct four identical live seminars on FDIC deposit insurance coverage for bank employees and bank officers between May 15, 2019, and December 9, 2019. In addition to a […]

David M. Loflin

Litigation Release No. 24457 / April 22, 2019 Securities and Exchange Commission v. David M. Loflin, No. CV-19-02548-PHX-JJT (D. Ariz. filed Apr. 19, 2019) The Securities and Exchange Commission charged David M. Loflin for his role in a pump-and-dump scheme in the stock of Greenway Design Group, Inc., a Phoenix, Arizona company that was secretly […]

FTC Announces Agenda for May Forum on Small Business Financing

The Federal Trade Commission has released the agenda for its May 8 event, Strictly Business: An FTC Forum on Small Business Financing. The forum will explore trends and consumer protection issues in the small business financing marketplace, including the recent proliferation of online loans and alternative financing products. Commissioner Rohit Chopra will give opening remarks […]

Kimberly Sredich

Litigation Release No. 24456 / April 19, 2019 Securities and Exchange Commission v. Kimberly Sredich, Civil Action No. 19-cv-11140 (E.D. Michigan, filed April 18, 2019) On April 18, 2019, the Securities and Exchange Commission charged Kimberly Sredich, a Michigan resident, with misappropriating funds from brokerage customers of a registered broker-dealer with which she was associated. […]

Yuh-Yue Chen

Litigation Release No. 24454 / April 18, 2019 Securities and Exchange Commission v. Yuh-Yue Chen, Civil Action No. 2:19-cv-02734-DSF-E (C.D. Cal., filed April 10, 2019) The Securities and Exchange Commission announced the filing of insider trading charges against a former engineer at Skyworks Solutions, Inc., a Massachusetts-based company with executive offices and a design center […]

FTC Approves Final Consents Settling Charges that Hockey Puck Seller, Companies Selling Recreational and Outdoor Equipment Made False ‘Made in USA’ Claims

Following public comment periods, the Federal Trade Commission has approved final consent orders in two cases in which the agency alleged that companies falsely claimed their products were made in the United States. Patriot Puck: First announced in September 2018, the FTC’s complaint against four related Farmingdale, New York-based companies doing business as Patriot Puck […]