‘Local’ firm played role in alleged pump-and-dump scheme
An investor-relations firm founded by an Indianapolis native allegedly helped insiders of a biotech firm to hype its stock on financial sites, then sell their own shares on the bump.
SEC
Articles
Bill opens door to crowdfunding investments for businesses
Privately owned businesses in Indiana will be able to raise investments online as part of a bill on the way to Gov. Mike Pence’s desk.
Angie’s List’s believers, doomsayers dig in their heels
As Angie’s List approaches its second anniversary as a public company, investors remain as split as ever on whether the consumer-review company is wildly overvalued or a revolutionary Internet business still in its infancy.
SEC charges Noblesville man in $6M investment scheme
John K. Marcum, 49, portrayed himself as a trader and asset manager to raise more than $6 million from at least 37 investors in six states through his company, Guaranty Reserves Trust, the SEC alleges.
SEC accuses Indy cancer firm of being a sham
The SEC says the CEO of locally based biomedical firm Xytos Inc. has committed securities fraud
since 2010 by repeatedly publishing false information to investors about the company. Timothy Cook denies the accusations.
NASDAQ breakdown ramps pressure to take actions
The latest high-tech disruption in the financial markets ratchets up the pressure on NASDAQ and other electronic exchanges to take steps to avoid future breakdowns and manage them better if they do occur.
City Securities’ stumble opens door to rivals
City Securities Corp. has dominated the Indiana municipal bond market for decades, but the firm’s recent $580,000 settlement with the U.S. Securities and Exchange Commission could give issuers pause and competitors a foot in the door in the underwriting business.
Local brokerage Goelzer reaches $500,000 settlement with SEC
Indianapolis-based Goelzer Investment Management Inc. has agreed to pay $500,000 to settle SEC charges that it misled many of its clients over a period of 13 years, costing them hundreds of thousands of dollars in trading fees.
City Securities paying $580,000 to settle SEC probe
The SEC said the Indianapolis investment firm and a southern Indiana school district made false statements to bond investors. The agency also said the head of City's municipal bond division, Randy Ruhl, provided improper gifts to bond issuers.
SKARBECK: SEC enforcement powers important but limited
The SEC’s reputation had taken a hit when an internal investigation found that senior employees were surfing pornographic websites during the financial crisis.
Lilly agrees to pay $29.4M to settle SEC bribery charges
According to a statement released by the SEC, Eli Lilly paid $6.5 million—and in some cases gave jewelry and spa treatments—to win government contracts in Brazil, China, Russia and Poland.
Berry Plastics prices IPO at low end of range
The Evansville-based packaging products maker raised $470 million by selling 29.4 million shares at $16 apiece.
SEC accuses Positron CEO of misleading investors
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors’ knowledge.
SEC filing: Ex-IPL chief Murtlow qualified for large payout
Indianapolis Power & Light chief Ann Murtlow left the utility this spring under terms of a separation agreement that would have entitled her to at least $404,410, according to documents the utility filed Nov. 3 with the Securities and Exchange Commission.
Angie’s List hopes investors see beyond the losses
The company's IPO filing includes this sobering disclaimer: “We have incurred net losses since inception, and we expect to continue to incur net losses in the foreseeable future.”
Businessman settles with SEC in fraud case
A Sheridan businessman has reached a settlement with the Securities and Exchange Commission in a case alleging he bilked investors, engaged in illegal trading practices and misappropriated funds.
Repeated price cuts take glow off Endocyte IPO
New investors got in for $6 a share—which is less than the average price paid by prior investors, a regulatory filing reveals.
Indiana businessman agrees to $3M fraud settlement
Indiana businessman Lowell Hancher has agreed to pay $3 million and never run a public company again to settle allegations by regulators that he carried out three separate fraud schemes over 5 years.
Insurer for Durham firm to settle suits for $5.5M
The agreement allows embattled financier Tim Durham to remain on the board of CLST Holdings, but mandates he step down as chairman and not vote on any matter unless doing so would make the board unanimous.
Knall accepts suspension in unusual SEC case
Newly public records suggest that securities investigators had far from an airtight insider-trading case against David Knall,
the star Indianapolis investment broker who nonetheless agreed to settle the 3-year-old inquiry by agreeing to a one-year
suspension. The Securities and Exchange Commission announced the pact Dec. 4. In addition to consenting to the suspension,
Knall, a managing partner of Stifel Nicolaus & Co., agreed to pay $123,865.