December 14, 2024
Timothy Birdnow
The Biden Administration, unable to stop Mr. Trump himself, is now targeting his nominees by targeting the places they work.
In this particular instance the Biden Security and Exchange commission (SEC) is going after Cantor Fitzgerald, which is run by Howard Lutnick, Trump's pick to head up the Department of Commerce.
Why? Allegedly "make misleading statements to investors ahead of their initial public offerings (IPOs)" as the SEC claims happened.
FTA:
The timing is suspect; just as Mr. Trump is about to take office and his Treasury Secretary nominee faces Senate confirmation hearings.
Watch for more such tactics in upcoming weeks as the Biden junta does it's best to tie the hands of the incoming Trump Administration.
The Biden Administration, unable to stop Mr. Trump himself, is now targeting his nominees by targeting the places they work.
In this particular instance the Biden Security and Exchange commission (SEC) is going after Cantor Fitzgerald, which is run by Howard Lutnick, Trump's pick to head up the Department of Commerce.
Why? Allegedly "make misleading statements to investors ahead of their initial public offerings (IPOs)" as the SEC claims happened.
FTA:
The Securities and Exchange Commission (SEC) on Thursday charged Cantor Fitzgerald L.P., a global financial services firm headed by one of President-elect Donald Trump’s cabinet nominees, with violating federal securities laws.
The SEC charged the finance firm for allegedly causing two special purpose acquisition companies (SPACs) that it controlled to "make misleading statements to investors ahead of their initial public offerings (IPOs),” according to a Thursday press release. Cantor Fitzgerald has agreed to settle the SEC’s charges by paying a $6.75 million civil penalty.
[...]
"Cantor Fitzgerald misled investors about a critical investment consideration by repeatedly stating in public filings that it had not identified or approached any potential merger targets, despite having had substantive discussions with several private companies regarding a potential merger, including with the companies with which its SPACs eventually merged,” Acting Director of the SEC’s Division of Enforcement Sanjay Wadhwa said in the press release. "This enforcement action reflects the straightforward proposition that any disclosures about substantive discussions with potential targets must be materially accurate.”
Cantor Fitzgerald did not admit or deny the order’s findings, according to the press release. SEC Commissioner Mark Uyeda published a dissenting statement about the charges Thursday, arguing that the alleged misstatements and omissions were not material.
The SEC charged the finance firm for allegedly causing two special purpose acquisition companies (SPACs) that it controlled to "make misleading statements to investors ahead of their initial public offerings (IPOs),” according to a Thursday press release. Cantor Fitzgerald has agreed to settle the SEC’s charges by paying a $6.75 million civil penalty.
[...]
"Cantor Fitzgerald misled investors about a critical investment consideration by repeatedly stating in public filings that it had not identified or approached any potential merger targets, despite having had substantive discussions with several private companies regarding a potential merger, including with the companies with which its SPACs eventually merged,” Acting Director of the SEC’s Division of Enforcement Sanjay Wadhwa said in the press release. "This enforcement action reflects the straightforward proposition that any disclosures about substantive discussions with potential targets must be materially accurate.”
Cantor Fitzgerald did not admit or deny the order’s findings, according to the press release. SEC Commissioner Mark Uyeda published a dissenting statement about the charges Thursday, arguing that the alleged misstatements and omissions were not material.
The timing is suspect; just as Mr. Trump is about to take office and his Treasury Secretary nominee faces Senate confirmation hearings.
Watch for more such tactics in upcoming weeks as the Biden junta does it's best to tie the hands of the incoming Trump Administration.
Posted by: Timothy Birdnow at
09:06 AM
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Howcum there's no title to this post? What's it all about (Alfie)?
Posted by: Dana Mathewson at December 16, 2024 12:05 AM (aL7f6)
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