Coral Capital Partners takes a look at an SEC enforcement action against a company and the individuals associated with it in an alleged stock pump and dump. This is a well written complaint by the SEC that is an interesting one to read.
Tag: Securities Fraud
Securities fraud involves illegal activities that violate various state and federal securities regulations. Securities fraud generally involves some form of market manipulation or the use of false information to either raise capital for a corporation or to secure an ill-gotten gain by engaging in inappropriate activities. Securities fraud can involve private placements for both private and public corporations, micro-cap securities, or the very largest of corporations. The enforcement of securities regulations and the prosecution of violation is generally handled by the Securities Exchange Commission or state securities agencies. In rare instances, local law enforcement will become involved.
Sun River Energy Pitches Investors on $39M to Fund Drilling Budget for 2012
Sun River Energy is attempting to raise $39 million
PIPE Issuer Accused of Manipulation In Multiple Suits By Restricted Shareholders
Sun River Energy was accused by multiple shareholders of attempting to manipulate the market for its common stock by refusing to remove the restrictive legends from their certificates following the expiration of the holding period required by Rule 144 of the Securities Act of 1933.