Sec-Enforcement

SEC Charges Cantor Fitzgerald $6.75 Million for Misleading SPAC Disclosures

2024-12-19 00:00:00 +0000 UTC | Importance: 8/10

The SEC charged Cantor Fitzgerald $6.75 million for systematic disclosure violations in two SPAC transactions involving View, Inc. and Satellogic. The firm misled investors by claiming no substantive discussions with merger targets existed, despite already negotiating potential mergers. This …

Securities and Exchange Commission Cantor Fitzgerald Howard Lutnick (CEO) View, Inc. Satellogic spac-fraud disclosure-violations sec-enforcement cantor-fitzgerald howard-lutnick +3 more

SEC Charges Nikola Corporation $125 Million for SPAC-Related Fraud and False Claims

2021-12-21 00:00:00 +0000 UTC | Importance: 8/10

The SEC settled fraud charges against Nikola Corporation for $125 million, finding the electric vehicle company made materially false and misleading statements about its products, technical capabilities, and partnerships during its 2020 SPAC merger. Founder Trevor Milton falsely claimed the Nikola …

Securities and Exchange Commission Nikola Corporation Trevor Milton (Founder and Former Executive Chairman) VectoIQ Acquisition Corp (SPAC) spac-fraud electric-vehicles sec-enforcement material-misrepresentation retail-fraud +2 more