March 27, 2024/US SEC On February 20, 2024, the Securities and Exchange Commission (“SEC”) obtained a final judgment against Christian Fernandez, who the SEC previously charged for his involvement in a fraudulent scheme to promote the securities of issuers that were conducting (or purporting to conduct) offerings pursuant to Regulation […]
Frauds & Scandals
SEC Charges Former Chairman and CEO of Lordstown Motors Corp. for Misleading Investors
March 22, 2024/US SEC The Securities and Exchange Commission announced settled fraud charges against Stephen Scott Burns, former Chairman and CEO of bankrupt automaker Lordstown Motors Corp., for misleading investors about “pre-orders” for Lordstown’s flagship electric pickup truck called Endurance. According to the SEC’s complaint, Burns made misleading statements about […]
SEC Charges Two Investment Advisers with Making False and Misleading Statements About Their Use of Artificial Intelligence
March 18, 2024/US SEC The Securities and Exchange Commission today announced settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false and misleading statements about their purported use of artificial intelligence (AI). The firms agreed to settle the SEC’s charges and pay $400,000 in […]
