Financial Industry Regulatory Authority

Coterra Energy Recommends Stockholders Reject "Mini-Tender" Offer by TRC Capital Investment Corporation

Retrieved on: 
Wednesday, July 26, 2023

Coterra Energy Inc. (NYSE: CTRA) (“Coterra”) today announced that it has received notice of an unsolicited “mini-tender” offer by TRC Capital Investment Corporation ("TRC Capital") to purchase up to 4,000,000 shares of Coterra’s common stock, or approximately 0.5% of Coterra’s outstanding shares, at an offer price of $25.50 per share.

Key Points: 
  • Coterra Energy Inc. (NYSE: CTRA) (“Coterra”) today announced that it has received notice of an unsolicited “mini-tender” offer by TRC Capital Investment Corporation ("TRC Capital") to purchase up to 4,000,000 shares of Coterra’s common stock, or approximately 0.5% of Coterra’s outstanding shares, at an offer price of $25.50 per share.
  • Coterra does not endorse TRC Capital's unsolicited mini-tender offer and recommends that stockholders do not tender their shares in response to TRC Capital's offer because the offer is at a price that is significantly below the current market value of Coterra’s common stock.
  • Coterra urges stockholders who have not responded to TRC Capital's mini-tender offer to take no action.
  • Coterra is not affiliated or associated in any way with TRC Capital, its mini-tender offer or its mini-tender offer documents.

SEC Charges Investor Joseph C. Lewis and Associates with Insider Trading

Retrieved on: 
Wednesday, July 26, 2023

The SEC also charged Carter, O’Connor, and Waugh with using that information to trade and reap combined profits of more than $545,000.

Key Points: 
  • The SEC also charged Carter, O’Connor, and Waugh with using that information to trade and reap combined profits of more than $545,000.
  • Within days, the SEC alleges, Carter and then later O’Connor and Waugh purchased the company’s common stock.
  • In a parallel action, the U.S. Attorney’s Office for the Southern District of New York today announced criminal charges against Lewis, O’Connor, and Waugh.
  • The SEC appreciates the assistance of the U.S. Attorney’s Office for the Southern District of New York, the Federal Bureau of Investigation, and the Financial Industry Regulatory Authority.

Human Capital Management Has Quantifiable Implications for Investors, Says Schroders

Retrieved on: 
Wednesday, July 12, 2023

Strong human capital management systems can be deployed through a combination of operating model and workforce strategies, culture and inclusion, incentive and performance management, talent and learning, and innovation.

Key Points: 
  • Strong human capital management systems can be deployed through a combination of operating model and workforce strategies, culture and inclusion, incentive and performance management, talent and learning, and innovation.
  • There are multiple paths to human capital management affecting balance sheets and profit and loss.
  • With KPIs to identify good human capital management, we can consider the drivers of change, and show how to optimize human capital productivity.
  • “This research tells us that investors should not ignore human capital management in evaluating investee companies,” said Angus Bauer, Head of Sustainable Research.

Joseph Gunnar Announces Appointment of Sean Corcoran as Head of Equity Capital Markets

Retrieved on: 
Tuesday, July 11, 2023

Joseph Gunnar & Co., LLC (“JGUN”), a leading full-service broker-dealer, investment adviser, and investment bank focused on the emerging growth markets, continues to expand the capabilities of its growing investment banking practice with the addition of industry veteran Sean Corcoran as Head of Equity Capital Markets.

Key Points: 
  • Joseph Gunnar & Co., LLC (“JGUN”), a leading full-service broker-dealer, investment adviser, and investment bank focused on the emerging growth markets, continues to expand the capabilities of its growing investment banking practice with the addition of industry veteran Sean Corcoran as Head of Equity Capital Markets.
  • Mr. Corcoran brings over three decades of equity capital market experience.
  • Davidson, where he was instrumental in enhancing the firm’s origination, distribution, and placement of lead-managed and co-managed deals.
  • Joseph Gunnar & Co., LLC’s affiliate Buttonwood fund also offers suitable individual and entity investors membership interests in pre-IPO venture investments.

SEC Charges Merrill Lynch and Parent Company for Failing to File Suspicious Activity Reports

Retrieved on: 
Tuesday, July 11, 2023

Washington, D.C.--(Newsfile Corp. - July 11, 2023) - The Securities and Exchange Commission today announced charges against Merrill Lynch, Pierce, Fenner & Smith Incorporated and its parent company BAC North America Holding Co. (BACNAH) for failing to file hundreds of Suspicious Activity Reports (SARs) from 2009 to late 2019.

Key Points: 
  • Washington, D.C.--(Newsfile Corp. - July 11, 2023) - The Securities and Exchange Commission today announced charges against Merrill Lynch, Pierce, Fenner & Smith Incorporated and its parent company BAC North America Holding Co. (BACNAH) for failing to file hundreds of Suspicious Activity Reports (SARs) from 2009 to late 2019.
  • Merrill Lynch agreed to pay a $6 million penalty to settle the SEC charges and, in a parallel action, Merrill Lynch agreed to pay a separate $6 million fine to settle charges brought by the Financial Industry Regulatory Authority (FINRA).
  • According to the SEC’s order, BACNAH assumed responsibility for creating and implementing Merrill Lynch’s SAR policies and procedures and for filing Merrill Lynch’s SARs.
  • Without admitting or denying the SEC’s findings, Merrill Lynch and BACNAH agreed to cease and desist from committing or causing violations of those provisions, and Merrill Lynch also agreed to a censure and the aforementioned $6 million civil penalty.

SEC Charges Former Army Financial Counselor Who Defrauded Gold Star Family Members

Retrieved on: 
Friday, July 7, 2023

According to the SEC’s complaint, Craffy, of Colts Neck, New Jersey, was permitted to provide general financial education to service members’ families through his job as a U.S. Army financial counselor.

Key Points: 
  • According to the SEC’s complaint, Craffy, of Colts Neck, New Jersey, was permitted to provide general financial education to service members’ families through his job as a U.S. Army financial counselor.
  • The SEC is seeking permanent injunctions, disgorgement of allegedly ill-gotten gains, plus interest, and civil penalties.
  • The SEC appreciates the assistance of the U.S. Attorney’s Office for the District of New Jersey, Financial Industry Regulatory Authority, Army Criminal Investigation Division, Defense Criminal Investigative Service, FBI, and Homeland Security Investigations.
  • The SEC's Office of Investor Education and Advocacy has information to help service members and their families make informed saving and investing decisions and avoid common scams.

Alpha Energy Inc. Announces Name and Trading Symbol Change

Retrieved on: 
Friday, July 7, 2023

GOLDEN, Colo., July 07, 2023 (GLOBE NEWSWIRE) -- Alpha Energy, Inc. (OTC Markets: APHE) today announced that it has filed with the Colorado Secretary of State to change its name to Truleum, Inc.

Key Points: 
  • GOLDEN, Colo., July 07, 2023 (GLOBE NEWSWIRE) -- Alpha Energy, Inc. (OTC Markets: APHE) today announced that it has filed with the Colorado Secretary of State to change its name to Truleum, Inc.
  • In conjunction with the name change, the Company is pleased to announce that the name and trading symbol change has been officially approved by the Financial Industry Regulatory Authority (FINRA) and will begin trading under the trading symbol, TRLM effective July 7, 2023.
  • The decision to change the company’s name and trading symbol was carefully considered and aligns with Truleum’s narrative of restoring trust and hope in the petroleum industry.
  • This change enables us to better communicate our mission to our stakeholders and strengthens our position as a catalyst for positive change in the petroleum industry.”
    Truleum’s common stock will continue to trade on the OTC Markets.

SEC Charges Stockbroker and Friend with Insider Trading

Retrieved on: 
Thursday, June 29, 2023

The scheme allegedly generated illicit profits of approximately $28,600 for Teixeira, while Meadow made more than $730,000.

Key Points: 
  • The scheme allegedly generated illicit profits of approximately $28,600 for Teixeira, while Meadow made more than $730,000.
  • In a parallel action, the U.S. Attorney’s Office for the Southern District of New York today announced criminal charges against Meadow and Teixeira.
  • The litigation will be led by Spencer Willig and Gregory Bockin of the Philadelphia Regional Office.
  • The SEC appreciates the assistance of the Financial Industry Regulatory Authority, the FBI, and the U.S. Attorney’s Office for the Southern District of New York.

SEC Charges Police Chief, Four Others in Connection with Insider Trading Before Pharmaceutical Merger

Retrieved on: 
Thursday, June 29, 2023

Cronin allegedly then provided the information to Jarett Mendoza, another close friend, and to family friend Stanley Kaplan, who provided advice to Cronin on trading strategies.

Key Points: 
  • Cronin allegedly then provided the information to Jarett Mendoza, another close friend, and to family friend Stanley Kaplan, who provided advice to Cronin on trading strategies.
  • The complaint further alleges that Kaplan and Feldman passed the information on to other family members and friends, who profitably traded.
  • The other traders who allegedly received nonpublic information from either Kaplan or Feldman saw profits of an additional $1.7 million.
  • The SEC appreciates the assistance of the U.S. Attorney’s Office for the Southern District of New York, the FBI, and the Financial Industry Regulatory Authority.

SEC Charges Former DWAC Board Member and Others for Insider Trading in DWAC Securities

Retrieved on: 
Thursday, June 29, 2023

Each then allegedly purchased DWAC securities on the open market based on the material nonpublic information they learned about DWAC.

Key Points: 
  • Each then allegedly purchased DWAC securities on the open market based on the material nonpublic information they learned about DWAC.
  • The complaint further alleges that, despite being a DWAC director and thus having certain reporting obligations, Garelick failed to file SEC Forms 4 and 5 related to his transactions in DWAC securities.
  • “As a board member, Garelick not only had access to information about DWAC’s upcoming merger announcement, but also a duty to maintain the confidentiality of that information.
  • The SEC appreciates the assistance of the U.S. Attorney’s Office for the Southern District of New York, the FBI, and the Financial Industry Regulatory Authority.