A California technology company has been charged with making misleading statements to investors that obscured the firm’s financial performance, the Securities and Exchange Commission announced. The SEC found that the conduct of VMware Inc., based in Palo Alto,...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: September 2022
SEC charges Florida representative with cherry-picking scheme
The Securities and Exchange Commission announced that a Florida investment advisor representative has been charged with a multi-year cherry-picking scheme, Wealth Management reports. The SEC said cherry-picking is a fraudulent practice in which advisors preferentially...
Lawsuit filed against Merrill Lynch in family dispute over inheritance
Merrill Lynch Wealth Management is facing a lawsuit over its actions in connection with a family dispute over an inheritance, AdvisorHub reports. The suit was filed last month in Texas state court by John Murgai as part of a legal battle over the assets of his father...
SEC charges Perceptive Advisors for not revealing SPAC conflicts
A New York-based advisory firm has reached a settlement with the Securities and Exchange Commission over charges that it failed to disclose conflicts of interest involving its personnel, the SEC announced. Perceptive Advisors LLC agreed to a $1.5 million penalty after...
Wells Fargo ordered to pay $22 million for firing Chicago-area executive who alleged financial misconduct
Wells Fargo has been ordered to pay $22 million to an executive based in the Chicago area who was fired after alleging financial misconduct, Financial Advisor reports. The U.S. Department of Labor’s Occupational Safety and Health Administration issued the order after...
