Thursday, December 8, 2016

SEC News - Misleading Investors, Whistleblower Award, Insider Trading


PIMCO Settles Charges of Misleading Investors About ETF Performance
Investment management firm Pacific Investment Management Company (PIMCO) agreed to retain an independent compliance consultant and pay nearly $20 million to settle charges that it misled investors about the performance of one its first actively managed exchange-traded funds (ETFs) and failed to accurately value certain fund securities.

SEC Charges Asset Management Fund and Manager
The SEC announced fraud charges and an asset freeze against Miami Beach-based asset management company Onix Capital LLC and owner Alberto Chang-Rajii, a Chilean national who fled the U.S. earlier this year.

United Settles Charges in Case of Flight Route to Benefit Public Official
The SEC announced that the parent company of United Airlines has agreed to pay $2.4 million to settle charges in a case where shareholders wound up footing the bill so a public official could get more convenient flights.

SEC Awards $3.5 Million to Whistleblower
A whistleblower has been awarded approximately $3.5 million for coming forward with information that led to an SEC enforcement action.

IT Specialist Settles Charges of Insider Trading on Hacked Nonpublic Information
Insider trading charges have been announced against a San Francisco-based information technology specialist who allegedly hacked senior executives at online travel company Expedia and illegally traded on company secrets.

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The attorneys at Sallah Astarita & Cox include veteran securities litigators and former SEC Enforcement Attorneys. We have decades of experience in securities litigation matters, including the defense of enforcement actions. We represent investors, financial professionals and investment firms, nationwide. For more information call 212-509-6544 or send an email.
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