SEC Charges Fake Filer With Manipulating Fitbit Stock
The Securities and Exchange Commission today filed fraud charges against a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. According to the SEC’s complaint, Robert W. Murray purchased Fitbit call options just minutes before a fake tender offer that he orchestrated was filed on the SEC’s EDGAR system purporting that a company named ABM Capital LTD sought to acquire Fitbit’s outstanding shares at a substantial premium. Fitbit’s stock price temporarily spiked when the tender offer became publicly available on Nov. 10, 2016, and Murray sold all of his options…
Read MoreDavid Peavler, Associate Director of Enforcement in Fort Worth Office, to Leave SEC
The Securities and Exchange Commission today announced that David L. Peavler, Associate Director of Enforcement in the Fort Worth Regional Office, is leaving the agency this month after more than 15 years of service. Mr. Peavler joined the SEC staff as a Staff Attorney and went on to serve as a Branch Chief and then an Assistant Director before being named Associate Director in November 2011. Mr. Peavler has supervised a staff of more than 60 attorneys and other professionals responsible for investigating potential violations of the federal securities laws by a wide range of market participants. Mr. Peavler received…
Read MoreSEC Names Robert B. Stebbins as General Counsel
The Securities and Exchange Commission today announced that Robert B. Stebbins has been named General Counsel of the agency. The General Counsel is the chief legal officer of the agency, providing a variety of legal services to the Commission and staff. "Bob is an exceptional attorney and counselor, and I know his depth of knowledge and experience managing a wide range of securities-related issues will benefit the SEC," said Chairman Jay Clayton. "I thank Bob for his commitment to serving his country and our agency, and I look forward to his steadfast guidance as the Commission's chief legal officer." "I have…
Read MoreSEC Names Jaime Klima Chief Counsel
The Securities and Exchange Commission today announced that Jaime Klima has been named Chief Counsel to Chairman Jay Clayton. As Chief Counsel, Ms. Klima will be senior legal and policy adviser, and will coordinate the rulemaking agenda of the Commission. She will also serve as the Chairman's representative on the Deputies Committee of the Financial Stability Oversight Council. "I am thrilled that Jaime has agreed to serve the Commission in this key role," said Chairman Jay Clayton. "I am pleased that Jaime's legal acumen and experience will continue to benefit the SEC and its team of committed professionals." Most recently, Ms.…
Read MoreSEC Names Sean Memon Deputy Chief of Staff
The Securities and Exchange Commission today announced that Sean Memon has been named the agency's deputy chief of staff. "Sean has proven to have extensive knowledge of financial regulation and coordination across our various markets. I commend his willingness to share his expertise here at the SEC as we further the agency's important mission," said Chairman Jay Clayton. Mr. Memon arrived at the SEC with experience providing advice to public and private companies in both legal and financial roles. Immediately prior to joining the SEC, Mr. Memon practiced law at Sullivan & Cromwell LLP in Washington, D.C., where he advised clients in regulatory and transactional matters, including with…
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