Category Archives: SEC

The Securities and Exchange Commission today filed charges in federal court in Denver against an individual and six companies he controls for perpetrating a multimillion-dollar fraudulent “cattle-flipping” investment scheme. The SEC also charged two individuals for aiding and abetting their scheme. The Commission’s complaint alleges that Mark Ray, a Denver resident, was the mastermind of […]

Litigation Release No. 24626 / September 30, 2019 Securities and Exchange Commission v. Yellowstone Partners, LLC, David H. Hansen, and Cameron G. High, No. 4:19-cv-00374 (D. Idaho) filed September 30, 2019 The Securities and Exchange Commission today charged former investment adviser Yellowstone Partners, LLP, of Idaho Falls, and its two former principals, David H. Hansen […]

Orders Firm That Did Not Self-Report to Pay $300,000 Penalty for Disclosure Failures Washington D.C., Sept. 30, 2019 — The Securities and Exchange Commission today announced settled charges against 17 investment advisers for disclosure failures regarding their mutual fund share class selection practices. The firms include 16 advisers that self-reported as part of the Division […]

The Securities and Exchange Commission has charged a Brooklyn, N.Y. resident, Michael Ajzenman, and his wholly-owned entity, Cutting Edge Business Services, Inc., for selling unregistered shares that did not qualify for any exemption into the public markets from at least January 2014 through September 2015. The SEC’s complaint, filed in the U.S. District Court for […]

Litigation Release No. 24624 / September 30, 2019 Securities and Exchange Commission v. Dana J. Bradley; Marlin S. Hershey; D. Bradley Inc.; Bryant Boys, LLC; Distressed Lending Fund, LLC; Erndit LLC; Hershey Enterprises, Inc.; MW Enterprises, LLC; Performance Holdings, Inc.; Performance Retire on Rentals, LLC, No. 3:19-cv-00490-FDW-DSC (W.D.N.C. filed September 30, 2019) The Securities and […]

Washington D.C., Sept. 27, 2019 — The Securities and Exchange Commission today announced that two BMO advisers have agreed to pay over $37 million to settle charges regarding their failure to tell clients about certain aspects of how the advisers selected investments in their retail investment advisory program, known as the Managed Asset Allocation Program (MAAP), […]

Litigation Release No. 24622 / September 27, 2019 Securities and Exchange Commission v. Hologram USA Networks Inc. and Alkiviades (“Alki”) David, Civil Action No. 1:19-cv-09013 (S.D.N.Y.) Today the Securities and Exchange Commission announced charges against Hologram USA Networks Inc., a California business specializing in theatrical holographic shows, and its CEO Alkiviades David, for engaging in […]

The Securities and Exchange Commission today announced charges against Pennsylvania-based pharmaceutical company Mylan N.V. for accounting and disclosure failures relating to a Department of Justice probe into whether Mylan overcharged Medicaid by hundreds of millions of dollars for EpiPen, its largest revenue and profit generating product. Mylan agreed to pay $30 million to settle the […]

Washington D.C., Sept. 27, 2019 — The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 23 soliciting entities, two impersonators of genuine firms, and 12 bogus regulators. The SEC’s list of soliciting entities that have been the subject of […]

Washington D.C., Sept. 27, 2019 — The Securities and Exchange Commission today announced that Westport Fuels Systems, Inc., a Canadian clean fuel technology company headquartered in Vancouver, Canada, and its former chief executive officer, Nancy Gougarty, of Leesville, South Carolina, have agreed to pay more than $4.1 million to resolve charges that they violated the […]