Pharmaceutical Company and Former Executives Charged With Misleading Financial Disclosures

The Securities and Exchange Commission today announced that Bausch Health, formerly Quebec, Canada-based Valeant Pharmaceuticals, agreed to pay a $45 million penalty to settle charges of improper revenue recognition and misleading disclosures in SEC…

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from The Securities Law Home Page – SECLaw.com

SEC Charges Former Georgia State Legislator With Defrauding Investors in Ponzi Scheme

The Securities and Exchange Commission today charged former Georgia state legislator and former member of the Georgia Board of Regents Clarence Dean Alford with defrauding at least 100 investors in his now-bankrupt energy development company, Allied…

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from The Securities Law Home Page – SECLaw.com

SEC Charges CEO and Company With Defrauding First Responders and Others Out of Millions

The Securities and Exchange Commission today announced charges against a San Antonio-area businessman and his company for running a multimillion-dollar fraudulent scheme that victimized scores of investors, many of them retired San Antonio police…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

from The Securities Law Home Page – SECLaw.com

Small Business Capital Formation Advisory Committee Aug. 4 Meeting to Focus on How Capital Markets Are Serving Underrepresented Founders

The Securities and Exchange Commission today released the agenda for the Tuesday, Aug. 4 meeting of its Small Business Capital Formation Advisory Committee, which will be hosted via video conference.  The current COVID-19 pandemic has put a…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

from The Securities Law Home Page – SECLaw.com

SEC Announces Creation of the Event and Emerging Risk Examination Team in the Office of Compliance Inspections and Examinations and the Appointment of Adam D. Storch as Associate Director

The Securities and Exchange Commission today announced the creation of the Event and Emerging Risks Examination Team (EERT) in the Office of Compliance Inspections and Examinations (OCIE). The EERT will proactively engage with financial firms about…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

from The Securities Law Home Page – SECLaw.com

SEC Charges Valic Financial Advisors with Failing to Disclose Payments to Promote Services to Florida Educators

The Securities and Exchange Commission today charged Houston-based VALIC Financial Advisors Inc. (VFA) in a pair of actions for failing to disclose to teachers and other investors practices that generated millions of dollars in fees and other financial…

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from The Securities Law Home Page – SECLaw.com

Agencies Adopt Final Rule on the Orderly Liquidation of Covered Broker-Dealers under Title II of the Dodd-Frank Act

The Securities and Exchange Commission and the Federal Deposit Insurance Corporation have adopted a final rule required by the Dodd-Frank Act clarifying and implementing provisions relating to the orderly liquidation of certain brokers or dealers (…

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from The Securities Law Home Page – SECLaw.com

SEC Charges Trustify Inc. and Founder in $18.5 Million Offering Fraud

The Securities and Exchange Commission today charged Trustify Inc., an online marketplace purportedly designed to connect customers to a network of private investigators, and its founder and CEO Daniel Boice with fraudulently offering and selling over $…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

from The Securities Law Home Page – SECLaw.com

SEC Adopts Rule Amendments to Provide Investors Using Proxy Voting Advice More Transparent, Accurate and Complete Information

The Securities and Exchange Commission today voted to adopt amendments to its rules governing proxy solicitations designed to ensure that clients of proxy voting advice businesses have reasonable and timely access to more transparent, accurate and…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

from The Securities Law Home Page – SECLaw.com

SEC Charges Silicon Valley Start-Up and CEO With Defrauding Investors

The Securities and Exchange Commission today charged a Mountain View, California-based technology start-up and its chief executive officer with defrauding investors by making false and misleading statements about the company’s finances and sources of…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

from The Securities Law Home Page – SECLaw.com