The Securities and Exchange Commission today announced an award of over $1.25 million to a whistleblower whose significant information prompted the agency to initiate a cause examination and bring an enforcement action that resulted in the return of… Read the Full Press Release Have a securities law question? Call Sallah […]
Mark J. Astarita
SEC Charges Ponzi Scheme Targeting African Immigrants
The Securities and Exchange Commission today charged two Maryland companies and their principals for a scheme that allegedly defrauded approximately 1,200 investors, many of them African immigrants, of more than $27 million. According to the SEC’s… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Charges Herbalife With FCPA Violations
The Securities and Exchange Commission today announced that Herbalife Nutrition Ltd. has agreed to pay more than $67 million to settle charges that it violated the books and records and internal accounting controls provisions of the Foreign Corrupt… Read the Full Press Release Have a securities law question? Call Sallah […]
Proposed Change to Accredited Investor Definition
The definition of an accredited investor has always been based on income and net worth. Over the decades that definition has become outdated and excludes individual who have the financial ability and acumen to make informed investment decisions. All of that is about to change. On August 26 the SEC […]
SEC Charges BorgWarner for Materially Misstating its Financial Statements
The Securities and Exchange Commission today announced settled charges against BorgWarner Inc., a motor vehicle parts manufacturer headquartered in Auburn Hills, Michigan, for materially misstating its financial statements by failing to account for… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544. […]
Expungement Rules Changing
SECLaw Tops The List of Securities Law Blogs
We did it again! Feedspot just published its list of the top 15 Securities Law Blogs, and we are #1. It’s not easy keeping pace with the ever changing laws of the financial markets, but we have been managing to do so for over 25 years. https://blog.feedspot.com/securities_law_blogs/ Visit us at […]
SEC Adopts Rule Amendments to Modernize Disclosures of Business, Legal Proceedings, and Risk Factors Under Regulation S-K
The Securities and Exchange Commission today announced that it voted to adopt amendments to modernize the description of business (Item 101), legal proceedings (Item 103), and risk factor disclosures (Item 105) that registrants are required to make… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Modernizes the Accredited Investor Definition
The Securities and Exchange Commission today adopted amendments to the “accredited investor” definition, one of the principal tests for determining who is eligible to participate in our private capital markets. Historically, individual investors who do not meet specific income or net worth tests, regardless of their financial sophistication, have been […]
SEC Charges Super Micro and Former CFO in Connection with Widespread Accounting Violations
The Securities and Exchange Commission today charged Super Micro Computer, Inc., a producer of computer servers, and its former CFO, Howard Hideshima, with prematurely recognizing revenue and understating expenses over a period of at least three years.… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]