Tag: sec
The SEC and the DOJ just charged this startup founder with fraud, saying he lied to Tiger and others
Today, both the U.S. Department of Justice and the Securities and Exchange Commission charged Manish Lachwani, cofounder of a mobile app testing company Headspin, with fraud. The SEC says he violated antifraud provisions and the civil penalties it’s seeking include a permanent injunction, a conduct-based injunction, and an officer and…
Read More
Um, where is the SEC when it comes to SPACs and conflicts of interest?
Today, my colleague Kirsten Korosec reported that the autonomous vehicle startup Aurora is close to finalizing a deal to merge with one of three blank-check companies that have been formed to date by renowned entrepreneurs Reid Hoffman and Mark Pincus and a third partner in these deals, Michael Thompson, who…
Read More
Canoo is being investigated by the SEC
Canoo, the Los Angeles-based electric vehicle startup that debuted on the Nasdaq public exchange earlier this year, is being investigated by the U.S. Securities and Exchange Commission, just months after its merger with special purpose acquisition company Hennessy Capital Acquisition Corp. The investigation is broad, covering the Hennessy’s initial public…
Read More
Crowdfunding limits are poised to change next week, but most VCs aren’t paying attention — yet
Passion Capital, the early-stage venture firm in London, told TechCrunch earlier this week that — in an apparent first for a European fund — it plans to crowdfund the final stage of its third and latest vehicle. Specifically, it’s carving out around half a million dollars for anyone who wants…
Read More
Two new efforts could widen the pool of people investing directly in venture funds
Venture funds have historically counted on several types of investors — or limited partners — for their investing capital. One of these groups is institutional investors — think pension funds, university endowments, hospital systems and the like. Another is corporations. A third bucket centers on wealthy individuals and often their…
Read More
US court agrees with SEC that Kik’s $100 million coin offering violated the law
A US district judge for the Southern District of New York has agreed with the Securities and Exchange Commission’s assessment that Kik’s $100 million initial coin offering (ICO) in 2017 was a securities sale. Judge Alvin Hellerstein has granted SEC’s… Source
Read More