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Selected Press Releases

SEC Charges Two Philadelphia Area Men For Defrauding Friends And Family In Private Equity Fund

09/23/2015

The Securities and Exchange Commission today announced settled charges with two Philadelphia-area men and their investment advisory firm who allegedly defrauded investors in a private equity fund they managed. Under the settlement, the respondents will owe approximately $6.8 million to the SEC. The SEC intends to distribute collected money to harmed investors. Read more

SEC Charges Consultant and Friend With Insider Trading in Advance of P.F. Chang’s Merger

09/23/2015

The Securities and Exchange Commission today charged a consultant and his friend with insider trading in the options of P.F. Chang’s China Bistro based on nonpublic information about an impending acquisition offer. Read more

SEC Charges Investment Adviser With Failing to Adopt Proper Cybersecurity Policies and Procedures Prior To Breach

09/22/2015

The Securities and Exchange Commission today announced that a St. Louis-based investment adviser has agreed to settle charges that it failed to establish the required cybersecurity policies and procedures in advance of a breach that compromised the personally identifiable information (PII) of approximately 100,000 individuals, including thousands of the firm’s clients.Read more

SEC Charges Two Men in Stock Manipulation Scheme

09/21/2015

The Securities and Exchange Commission today charged two men behind a scheme that defrauded investors in YaFarm Technologies Inc., a company that purported to provide stem cell therapy.Read more

SEC Charges Investment Adviser With Improperly Using Mutual Fund Assets to Pay Distribution Fees - First Case Brought Under Distribution-in-Guise Initiative

09/21/2015

The Securities and Exchange Commission today charged a New York-based investment adviser and its affiliated distributor with improperly using mutual fund assets to pay for the marketing and distribution of fund shares. First Eagle Investment Management and FEF Distributors agreed to pay nearly $40 million to settle the SEC’s charges, the first brought under a recent SEC initiative to protect mutual fund shareholders. The money will be returned to the accounts of affected shareholders. Read more