In a lawsuit filed in the U.S. District Court for the Southern District of New York, the SEC alleged that Barry Honig, Phillip Frost, OPKO Health, and other defendants engaged in “pump-and-dump” schemes that enriched the defendants and “left retail investors holding virtually worthless shares.” Honig was the primary strategist, calling upon other defendants to buy or sell stock, arrange for the issuance of shares, negotiate transactions, or engage in promotional activity, the SEC lawsuit claims.
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