News & Analysis as of

Enforcement Pump and Dump

Pietragallo Gordon Alfano Bosick & Raspanti,...

Did The Southern District Of Texas Just Legalize Securities Fraud?

In December 2022, the Department of Justice indicted eight individuals for securities fraud for allegedly operating a $114 million social media pump and dump scheme. United States v. Constantinescu, No. 4:22-CR-00612 (S.D....more

Dorsey & Whitney LLP

SEC Prevails in Pump and Dump Trial

Dorsey & Whitney LLP on

Following a four day jury trial the SEC prevailed, securing a favorable verdict on its claims against defendant Edward Hayter. See SEC Press Release (Aug. 8, 2014). The action centered on a microcap fraud, a key enforcement...more

Dorsey & Whitney LLP

SEC Continues to Focus on Microcap Fraud

Dorsey & Whitney LLP on

Microcap fraud is a continuing enforcement priority for the SEC. Last week, for example, the Commission brought an action centered on what would have been a pump and dump scheme but for the fact that the shell company was...more

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