SEC Said It's Brought Charges For Promoting Companies Without Disclosing Payments

By Steve GoldsteinMarketsMarketWatch Pulse

The Securities and Exchange Commission on Monday announced enforcement actions against 27 individuals and entities for undisclosed payments made in return for bullish articles. The SEC filed fraud charges against three public companies and seven stock promotion or communications firms as well as two company CEOs, six individuals at the firms, and nine writers. Of those charged, 17 have agreed to settlements that include disgorgement or penalties ranging from approximately $2,200 to nearly $3 million based on frequency and severity of their actions. The SEC's litigation continues against 10 others.

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