Growth Capitalist (https://growthcapitalist.com/category/premium-articles/legal/page/14/)
Legal developments affecting capital formation by pre-IPO private and public emerging growth companies
The Securities and Exchange Commission is playing tough against Ironridge Global Partners after the microcap financing firm refused to settle with the agency over alleged securities violations stemming from its debt-to-equity exchange deals.
Federal authorities have charged a long-time microcap stock manipulator and over a half a dozen of his cohorts with scheming to cloak ownership of shares used in a series of offshore pump and dump campaigns emanating from Central America.
A penny stock scam case highlighted by the SEC’s enforcement chief Andrew Ceresney against foreign broker-dealers is now falling apart after a U.S. federal judge intervened and scolded the agency for its negligence in requesting an asset freeze.
The Department of Justice is getting tough on gatekeepers in the microcap industry, using wire taps to turn co-conspirators into confidential informants and secure guilty pleas and jail time. The latest is 46 year-old reverse merger lawyer Adam S. Gottbetter, who operated a law firm and placement agent specializing in alternative public offerings (APOs) of microcap stocks.
