Selected Press Releases
MassMutual to Pay $1.625 Million after SEC Investigation Highlights Prior Insufficient Disclosures about Annuity Product
11/15/2012
Washington, D.C., Nov. 15, 2012 — The Securities and Exchange Commission today charged Massachusetts Mutual Life Insurance Company with securities law violations for failing to sufficiently disclose the potential negative impact of a "cap" it placed on a complex investment product that investors were planning to use for retirement.Read moreBP to Pay $525 Million Penalty to Settle SEC Charges of Securities Fraud During Deepwater Horizon Oil Spill
11/15/2012
Washington, D.C., Nov. 15, 2012 — The Securities and Exchange Commission today charged BP p.l.c. with misleading investors while its Deepwater Horizon oil rig was gushing into the Gulf of Mexico by significantly understating the flow rate in multiple reports filed with the SEC.Read moreSEC Charges Miami-Based Adviser with Hiding Trading Losses and Diverting Client Funds
11/09/2012
Washington D.C., Nov. 9, 2012 — The Securities and Exchange Commission today charged a Miami-based investment adviser for defrauding his clients by concealing trading losses and diverting investor funds for personal use.Read moreSEC Charges Baton Rouge-Based Investment Adviser with Hiding Losses From Mortgage-Backed Securities Investments
11/08/2012
Washington, D.C., Nov. 8, 2012 — The Securities and Exchange Commission today charged a hedge fund manager in Baton Rouge, La., with defrauding investors by hiding millions of dollars in losses suffered during the financial crisis from investments tied to residential mortgage-backed securities (RMBS).Read moreSEC Charges Executives and Auditor of Electronic Game Card Company with Fraud
11/08/2012
Washington, D.C., Nov. 8, 2012 — The Securities and Exchange Commission today charged three executives with repeatedly lying to investors about the operations and financial condition of an Irvine, Calif.-based company that purported to sell credit card-size electronic games. The SEC also charged the company’s independent auditor with facilitating the scheme.Read more