Penny Stock Emails 101- Securities Lawyer 101
Securities Lawyer 101 Blog Often times investor relations firms touting microcap stocks use penny stock email containing newsletters and advertisements about a stock’s potential. Recent indictments and SEC cases have focused on the use of penny stock email… Read More
Craig Karlis Sentenced to 9 Years For Fraud Charges
The Securities and Exchange Commission (the “SEC”) announced that on September 16, 2014, the former owner of a Boston Trading and Research, LLC (“BTR”), was sentenced to nine years in prison after pleading guilty to charges that he… Read More
SEC Charges 28 With Insider Reporting Failures
On September 10, 2014, the Securities and Exchange Commission (the “SEC”) announced enforcement actions and penalties of more than $2.6 million against 28 individual directors, officers, and beneficial owners and 6 issuers for failure to promptly report their holdings in… Read More
Securities Lawyers Gone Wild – Svitlana Sangary
Business Lawyer Photoshops Her Way to a Six Month Suspension Some wayward attorneys content themselves with writing fraudulent opinion letters, but Svitlana Sangary, a Los Angeles business lawyer, yearned for the red carpet. In an apparent attempt to convince… Read More
SEC Charges 8 in Pump and Dump Scheme
On September 18, 2014, the Securities and Exchange Commission (the “SEC”) announced charges against eight individuals for their roles in an alleged pump-and-dump scheme involving a penny stock company based in California that has repeatedly changed its name and… Read More
SEC Issues Multiple Trading Suspensions
On September 18, 2014, the Securities and Exchange Commission (the “SEC”) announced temporary trading suspensions of multiple issuers. The trading suspensions commenced at 9:30 a.m. EDT on September 18, 2014 and terminate at 11:59 p.m. EDT on October 1, 2014:
SEC Issues Trading Suspension of Gepco Ltd.
On September 18, 2014, the Securities and Exchange Commission issued a temporary trading suspension of the securities of Gepco, Ltd securities due to concerns about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in Gepco’s… Read More
Robert Bandfield, Andrew Godfrey and Jim Can Indicted
On September 9, 2014, the United States Attorney for the Eastern District of New York announced a multi-count indictment against six individual defendants: Robert Bandfield, a U.S. citizen; Andrew Godfrey, a citizen of Belize; Kelvin Leach, a citizen of… Read More
What is a Secondary Offering? Going Public Lawyers
Securities Lawyer 101 Blog Going public transactions can be structured a variety of ways. Many going public transactions involve the filing of a registration statement with the Securities and Exchange Commission (“SEC”) registering shares held by existing stockholders… Read More
Bank Secrecy 101 By: Brenda Hamilton, Attorney
Securities Lawyer 101 Blog Posted By: Brenda Hamilton Attorney The Bank Secrecy Act (“BSA”) requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering activity. The Act’s regulations apply to broker-dealers… Read More
Panama and U.S. To Share More Than $36 Million in Forfeitures
Securities Lawyer 101 Blog In October of 2013, Deputy Attorney General James M. Cole and Panamanian Attorney General Ana Belfon signed an agreement to share more than $36 million in government forfeitures of criminal assets with the Government of… Read More
Securities Lawyers Gone Wild – Justin Lee Charged in EB-5 Scheme
On September 3, 2014, the Securities and Exchange Commission (the “SEC”) charged an immigration and securities attorney, his wife, and his law firm partner with conducting an investment scheme to defraud foreign investors trying to come to the… Read More
Can I Register An Equity Line In My Going Public Transaction?
Securities Lawyer 101 Blog In going public transactions, issuers consider many capital raising options. One capital raising option is the equity credit line. Most equity lines are structured so that the investor enters into an agreement with the… Read More
Rule 144’s Current Public Information Requirement
Rule 144 of the Securities Act provides a safe harbor from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”) for resales of restricted and control securities if specified conditions are met. One… Read More
FINRA Proposes Pilot Program to Widen Tick Sizes
On August 27, 2014, the Securities and Exchange Commission (the “SEC”) announced that the national securities exchanges and the Financial Industry Regulatory Authority (“FINRA”) filed a proposal to establish a national market system plan to implement a 12-month… Read More
Investor Relations Firm Employee Michael Lucarelli Indicted
Securities Law Blog On August 26, 2014, the U.S. Attorney’s Office for the Southern District of New York announced charges against Michael Anthony Dupre Lucarelli. Lucarelli is charged with 13 counts of criminal insider trading over his alleged scheme… Read More
What Are EB-5 Offering Requirements? Going Public Lawyer
Securities Lawyer 101 Blog The EB-5 offering visa program grants foreign investors a green card for themselves and their immediate family in exchange for a capital investment of at least $500,000 in a qualified U.S. business enterprise. To qualify… Read More
Preparing and Filing SEC Form D
Securities Law Blog Regulation D under the Securities Act of 1933, as amended (the “Securities Act”) provides exemptions that permit a company to offer and sell its securities without complying with the registration statement requirements of the Securities… Read More
Going Public Attorneys Helping Issuers
Going public is a big step for any company. The process of “going public” is complex and at times precarious. While going public offers many benefits it also comes with risks and quantities of regulations with which issuers must become familiar. Despite… Read More
How Does the JOBS Act Benefit A Foreign Issuer?
Securities Lawyer 101 Blog As the Securities and Exchange Commission (“SEC”) finishes the rule making that provides a structure for full implementation of the JOBS Act, much has been written about its impact on going public transactions and… Read More
Section 16 Reporting & Going Public Transactions
Once the SEC staff declares a company’s Form S-1 registration statement effective in a going public transaction, the company becomes subject to Exchange Act reporting requirements even if it does not have its ticker symbol. Many issuers are not aware of… Read More
Reefer Madness – More Indicted In Pot Stock Scams
Securities Lawyer 101 Blog On August 5, 2014, the Attorney’s Office for the Western District of Washington announced criminal charges against Mikhail Galas, Alexander Hawatmeh, and Christopher Mrowca in connection with two heavily touted pot stocks, Growlife and… Read More
Court Awards SEC Judgments Of Almost $70 Million Against Defendants
Securities Law Blog On August 9, 2014, the SEC announced that the U.S. District Court for the Eastern District of Tennessee issued final SEC judgments against AIC, Inc., Community Bankers Securities, LLC, and Nicholas D. Skaltsounis and Relief… Read More
Crucible Capital and Chuck Moore Indicted for Obstructing SEC Investigation
On August 9, 2014, the Securities and Exchange Commission (the “SEC”) announced charges against Chuck Moore and Crucible Capital Group, a New York-based brokerage firm for allegedly violating net capital requirements and falsifying books and records to conceal… Read More
SEC Charges Julian Brown and Bahamian Brokerage Firm, Alliance Investment Management
Securities Law Blog On August, 8, 2014, the Securities and Exchange Commission (“SEC”) announced charges against Julian Brown and his firm Alliance Investment Management Limited (AIM). According to the SEC allegations, Julian Brown purported to be the “custodian”… Read More
What Are Seed Stockholders? Going Public Lawyer
Securities Lawyer 101 Blog The going public process involves a number of steps that vary depending on the characteristics of the private company wishing to go public, and whether it will become a Securities and Exchange Commission (“SEC”)… Read More
Prospectus Disclosure Requirements – Going Public Attorneys
The prospectus is the most important document of a public offering. The prospectus is the document provided to investors in the issuer’s offering. The prospectus is contained in the registration statement filed under the Securities Act of 1933, as… Read More
Officer and Director Disclosure of Background Matters
Securities Lawyer 101 Blog The securities laws require that public companies provide disclosure about the backgrounds of its officers and directors and describe certain material information that is “material to an evaluation of the ability or integrity of… Read More
