Litigation Release No. 24506 / June 21, 2019 Securities and Exchange Commission v. Kit Mun Chan, Lau Kean Chong, Chong Poui Fan, Binji Lu, and Youn Chien Wong, No. 19 Civ. 5718 (GHW) (S.D.N.Y. filed June 19, 2019) The Securities and Exchange Commission announced charges against five foreign traders for executing illegal matched trades in […]
Monthly Archives: June 2019
FTC Stops Operators of Fake Credit Repair Scheme
At the Federal Trade Commission’s request, a federal court has temporarily halted and frozen the assets of Grand Teton Professionals, an alleged credit repair scheme that charged illegal upfront fees and falsely claimed to repair consumers’ credit. The company and other defendants are charged with violating the FTC Act and several provisions of the Credit […]
Anatoly Hurgin, Alexander Aurovsky, Ability Computer & Software Industries Ltd., and Ability Inc.
The SEC on Tuesday charged Ability Inc., an Israel-based intelligence communications company, its wholly-owned subsidiary, and two of its top executives with defrauding shareholders of a Florida-based special purpose acquisition company, or “SPAC,” a company formed to raise capital for a merger or acquisition within a set timeframe. The SEC’s complaint, filed in federal district […]
FTC Submits Comment Urging Modification of Southern District of Florida Local Rule
The Federal Trade Commission submitted a comment to an ad hoc committee of the U.S. District Court for the Southern District of Florida advocating for the modification of a local rule amendment that has impaired the FTC’s ability to monitor order compliance and recover money from defendants who have violated the law and harmed consumers. […]
At FTC’s Request, Court Imposes Permanent Direct Mail Marketing Ban and $8.9 Million Judgment on Operators of Newspaper Subscription Scheme
The operators of a deceptive newspaper subscription scheme are permanently banned from the direct mail marketing business under a federal court order obtained by the Federal Trade Commission. Following a five-week trial, the U.S. District Court for the District of Oregon, Medford Division, issued an order granting the FTC’s request to permanently ban the defendants […]
FTC Imposes Conditions on UnitedHealth Group’s Proposed Acquisition of DaVita Medical Group
Healthcare provider and insurer UnitedHealth Group Incorporated and healthcare provider DaVita, Inc. have agreed to a settlement to resolve Federal Trade Commission allegations that UnitedHealth Group’s proposed $4.3 billion acquisition of DaVita’s DaVita Medical Group will harm competition in healthcare markets in Clark and Nye Counties, Nevada. Under the proposed settlement, no later than 40 […]
TSX Delisting Review – Jaguar Mining Inc. (JAG)
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Equal Earth, Inc., et al.
The Securities and Exchange Commission today announced that Equal Earth, Inc., a San Diego, California-based green energy company, its Chief Executive Officer, and its Chief Operating Officer agreed to settle charges arising out of a two-year offering fraud. The SEC’s complaint alleges that Equal Earth, CEO Andrew J. Duggan of San Diego, California, and COO […]
Equal Earth, Inc., et al.
The Securities and Exchange Commission today announced that Equal Earth, Inc., a San Diego, California-based green energy company, its Chief Executive Officer, and its Chief Operating Officer agreed to settle charges arising out of a two-year offering fraud. The SEC’s complaint alleges that Equal Earth, CEO Andrew J. Duggan of San Diego, California, and COO […]
Raymond Starker
Litigation Release No. 24503 / June 18, 2019 Securities and Exchange Commission v. Raymond Starker, No. 3:19-cv-13939 (D.N.J. filed June 18, 2019) The Securities and Exchange Commission announced settled insider trading charges against Raymond Starker for selling shares of Energy Focus, Inc. while allegedly in possession of material, nonpublic information about a planned secondary offering […]