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Category: Blog

MoviePass Gets Close Look for Securities Fraud

Perhaps some of us could have predicted how this film would end. MoviePass theatre subscriptions have plummeted over the year. Investigators are also looking at possible securities fraud by the company that caught all kinds of attention by offering moviegoers a chance to see a whole lot of films on the cheap. The New York Attorney General late last year opened a probe into Helios and Matheson Analytics, which owns MoviePass. The state’s acting top lawyer said in a Tweet that prosecutors are looking into whether the company misled investors about MoviePass’s long-term viability. “My office is committed to protecting […]

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Elon Musk Accused of Violating Securities Fraud Settlement

It’s been an interesting year for Elon Musk, the Tesla chief executive officer who rose to fame as a leading voice in the tech sector. In the last 12 months, he made a head-scratching appearance on Joe Rogan’s podcast, announced the company was closing physical stores in favor of internet sales, and flirted with a plan to take Tesla private. Musk’s decision to ruminate on the last move via social media generated a securities fraud suit from the federal government. Now lawyers for the Securities Exchange Commission say Musk violated a settlement agreement in that case by talking too much […]

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Lawmakers Push Bipartisan Bill for Investor Fraud Victims

Bipartisanship isn’t exactly a common theme in Congress these days. If there’s one thing lawmakers on both sides of the aisle should be able to agree on, however, it’s that government investigators should have a full arsenal of tools to go after people who commit fraud. Sens. John Kennedy (R-La.) and Mark Warner (D-Va.) recently introduced legislation that would strengthen the Securities Exchange Commission’s power to seek compensation for the victims of fraud. The Securities Fraud Enforcement and Investor Compensation Act would give the SEC more time to pursue those cases. The measure, which was referred to the Senate Banking, […]

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How a Securities Fraud Tip Led to the College Admissions Scandal

The college admission scandal is one of those stories that has gripped public attention and doesn’t show any signs of letting go. Whether it’s because you’re a fan of “Full House” and “Desperate Housewives” or are simply intrigued by rich people doing shady things to get their kids into school, Operation Varsity Blues has something for everyone. It turns out that the criminal investigation that netted some 50 people spending roughly $25 million to grease the college admissions skids started out as a very different fraud case. Law enforcement officers were tipped off about the scheme by a man being […]

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Amazon Has a Fake Goods Problem

Amazon is fetching some handsome fees from third-party sellers who use the online retailer’s website to offer a wide variety of goods. It turns out, however, that some of those merchants are taking advantage of Amazon to sell counterfeit items from cellphone cases and sandals to designer handbags. Amazon recently noted in a report to investors that the company faces some legal risk stemming from third-party sellers who hock fake goods on the site. It’s the first time the company has publicly acknowledged that the problem could very well get worse. “We…may be unable to prevent sellers in our stores […]

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Charter Communications Shells Out $174 Million in Consumer Fraud Settlement

If you’ve ever stared at a computer screen waiting for a web page to load while also sitting on hold with someone from your internet service provider’s customer service team, then you’re well acquainted with how aggravating connectivity problems can be. A recent case out of New York is a good example of the power that state prosecutors have to go after telecom companies that don’t live up to their promises to customers. The New York Attorney General’s office announced late last year that Charter Communications had agreed to pay more than $174 million to settle consumer fraud charges. The […]

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