SEC sues former MoviePass executives for fraud
In addition to financial penalties, the SEC is seeking to prevent both Farnsworth and Lowe from serving in director or officer positions in any company that’s required to register securities with the agency. The SEC’s lawsuit also names former MoviePass business development executive Khalid Itum as a defendant. Itum allegedly pocketed $310,000 by submitting false invoices to the company.
Last year, Helios and Matheson, Farnsworth and Lowe settled a lawsuit from the Federal Trade Commission related to allegations they mislead customers and failed to“The complaint concerns matters subject to an investigation that the company and other news outlets publicly disclosed nearly three years ago, and Mr. Farnsworth’s legal team will maintain the challenge to this complaint,” Chris Bond, a spokesperson for Ted Farnsworth told. “Mr.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former MoviePass Execs Accused of Fraud by SECMoviePass was founded on a lie, the Securities and Exchange Commission alleged in a complaint filed on Monday night. The company introduced its $9.95-a-month, all-you-can-watch subscription plan in…
Read more »
SEC Says Old MoviePass Execs Lied to You About How Well They Could Maintain $10 SubscriptionsThe SEC also accused another exec Khalid Itum of sapping over $300,000 from both MoviePass and its parent company.
Read more »
'Without a Trace' Poppy Montgomery's Former Housekeeper Sues For Unpaid Wages'Without a Trace' star Poppy Montgomery is being sued by her former housekeeper for six figures.
Read more »
No ‘Security’ Token Delisting Plans for New Kraken BossThe Kraken exchange’s incoming chief executive has stated that he has no plans to register with the SEC because it does not offer securities.
Read more »
Juul executives can’t be personally sued in Colorado, state Supreme Court rulesNEW: Four executives at electronic cigarette maker Juul Labs cannot be personally sued in Colorado for their company’s allegedly illegal marketing practices, the state Supreme Court ruled Monday.
Read more »
Colorado Supreme Court blocks state’s attempt to sue Juul executives personallyFour executives at electronic cigarette maker Juul Labs cannot be personally sued in Colorado for their company’s allegedly illegal marketing practices, the state Supreme Court ruled Monday.
Read more »