Financial Enforcement Actions | Week of March 28 to April 03

Enforcement Report Mar 28 - Apr 03

Enforcement Report Mar 28 - Apr 03

FTC

3 Enforcement Documents

$0.00 in Fines

Penalties: N/A
Respondent: Axon/VieVu
Violation: Axon’s May 2018 acquisition reduced competition in an already concentrated market. Before their merger, Axon and VieVu competed to sell body-worn camera systems that were particularly well suited for large metropolitan police departments... Read More

Penalties: N/A
Respondent: Altria Group/JUUL Labs
Violation: The Federal Trade Commission has filed an administrative complaint alleging that Altria Group, Inc. and JUUL Labs, Inc. entered a series of agreements, including Altria’s acquisition of a 35% stake in JUUL, that eliminated competition in violation of federal antitrust laws... Read More

Penalties: N/A
Respondent: SLAC, Inc.
Violation: Federal Trade Commission charges that they falsely promised to lower or eliminate consumers’ student loans for an illegal upfront fee. The FTC also alleged that the companies and Owens failed to disclose that they paid consumers for positive Better Business Bureau (BBB) reviews... Read More

CFPB

3 Enforcement Documents

$1,386,675.64 in Fines

Penalties: $1,386,675.64
Respondent: Cottonwood Financial, Ltd.
Violation: the course of marketing, servicing, and collecting on high-interest payday, auto-title, and unsecured consumer-installment loans Cash Store violated the Consumer Financial Protection Act (CFPA), Fair Credit Reporting Act (FCRA), and Truth in Lending Act (TILA)... Read More

SEC

13 Enforcement Documents

$5,971,501.00 in Fines

Penalties: N/A
Respondent: Bryan Cohen and George Nikas
Violation: The complaint alleged that Cohen obtained nonpublic information about potential corporate acquisitions of Syngenta AG and Buffalo Wild Wings, Inc., each of whom had engaged his then-employer to provide related advisory services. According to the complaint, Cohen misappropriated this highly confidential information by tipping a trader based in Switzerland, who further tipped defendant George Nikas. Both the Switzerland-based trader and Nikas traded in the securities of Syngenta, and Nikas also traded in the securities of Buffalo Wild Wings, prior to market-moving public disclosures about the acquisitions of these companies, and as a result generated millions of dollars of illegal profits. The Court entered a final judgment by consent that enjoins Cohen from violating the antifraud provisions of Section 10(b) and Section 14(e) of the Securities Exchange Act of 1934 and Rule 10b-5 and Rule 14e-3 thereunder... Read More

Penalties: $4,971,501.00
Respondent: Jerey E. Wall and The Lighthouse Events, LLC
Violation: The SEC's complaint alleges that Wall and Lighthouse violated the antifraud provisions of Section 17(a) of the Securities Act of 1933 ("Securities Act") and Section 10(b) the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and the registration provisions under Sections 5(a) and 5(c) of the Securities Act... Read More

Penalties: N/A
Respondent: Adam Matthew Root
Violation: On March 30, 2020, a final judgment was entered by consent against Respondent, permanently enjoining him from future violations of Sections 17(a)(1) and 17(a)(3) of the Securities Act of 1933 (“Securities Act”), in the civil action entitled Securities and Exchange Commission v. Adam Matthew Root, Civil Action Number 3:20-CV-0726-G, in the United States District Court for the Northern District of Texas, Dallas Division. it is hereby ORDERED pursuant to Section 203(f) of the Advisers Act, that Respondent Root be, and hereby is barred from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization with the right to apply for reentry after ten (10) years from the date of this order to the appropriate self-regulatory organization, or if there is none, to the Commission... Read More

Penalties: N/A
Respondent: Donald J. Fowler
Violation: Fowler violated (i) Section 17(a) of the Securities Act of 1933 (“Securities Act”) and (ii) Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. On February 28, 2020, a final judgment was entered against Fowler, permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933 (“Securities Act”), Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. Donald J. Fowler, Civil Action Number 17-CV-139 (GHW) (S.D.N.Y.)... Read More

Penalties: N/A
Respondent: OwnZones Media Network, Inc., Daniel Goman, and Joseph Goman
Violation: The SEC's complaint, which was filed in the Central District of California, charges OwnZones, Dan Goman and Joe Goman with violating the securities registration requirements of Sections 5(a) and 5(c) of the Securities Act of 1933 and the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder... Read More

Penalties: N/A
Respondent: "Teshuater, LLC, Larry Donnell Leonard, II, Shuwana Leonard, and Teshua Business Group, LLC"
Violation: Violations of Section 10(b) of the Exchange Act [15 U.S.C. § 78j(b)] and Rule 10b-5 thereunder [17 C.F.R. § 240.10b-5]... Read More

Penalties: N/A
Respondent: "Jonah Engler a/k/a Jonah Englersilberman, Joshua W. Turney, Hector Perez a/k/a Bruce Johnson, and Barbara Desiderio"
Violation: Defendants Engler, Turney, and Perez have violated Section 17(a)(1) and (3) of the Securities Act of 1933 (“Securities Act”) [15 U.S.C. § 77q(a)(1) & (3)] and Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. §§ 78j(b)], and Rule 10b-5(a) and (c) thereunder [17 C.F.R. § 240.10b-5(a) & (c)]. Defendant Desiderio aided and abetted Engler’s, Turney’s and Perez’s violations... Read More

Penalties: $443,126.00
Respondent: "Patrick Muraca, NanoMolecularDX, LLC (a/k/a NMDX, LLC), and MetaboRX, LLC"
Violation: Muraca, NanoMolecularDX, LLC and MetaboRX, LLC had violated the securities laws, and now the court has entered the final judgment, permanently enjoining Muraca from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder... Read More

Penalties: N/A
Respondent: Cybrdi, Inc.
Violation: CYDI has failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder because it has not filed any periodic reports with the Commission since the period ended September 30, 2014... Read More

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