The Securities and Exchange Commission is cracking down on investor relations firms that promote investment in emerging growth companies without disclosing that they are getting paid to tout their stock. On Monday April 10 the regulator announced a sweep of enforcement cases against executives at IR firms and the writers they hired to write bullish articles on penny stock companies masked as unbiased analyses which were posted on online investment websites including Seeking Alpha, The Street, Motley Fool and Benzinga.
A Utah-based movie streaming company that offers “filtering” of content based on viewer selection has raised over $10 million from customers and fans after a group of Hollywood studios led including Disney, Fox and Warner Brothers sued to shut it down.
An ex-portfolio manager at Visium Asset Management LP corruptly sought to boost the value of one of its hedge fund's holdings, defrauding investors while enabling the investment firm to earn millions of dollars, a U.S. prosecutor told jurors on Wednesday. via Ex-Visium hedge fund manager cheated investors, U.S. jury hears | Reuters.
The selling broker for Med-X’s Regulation A+ offering has quit, citing the late filing of the company’s 2015 annual report, which resulted in the suspension of the offering by the Securities and Exchange Commission in September.