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If you close up shop, the IRS will want to know why

#Sem categoria | 19 de abril de 2015

Among the false and misleading press releases were a series of releases that claimed that Spencer had received an unsolicited buyout offer from a Mideast company for $245 million when, in fact, the purported buyout offer was not real. The promotional campaign significantly pumped up the price of Spencer’s stock at one point causing the price to more than double in two days and consequently enabled Amyot to dump tens of millions of shares into the market at artificially inflated prices for gross proceeds in excess of $5 million. The complaint further alleged that Spencer, Amyot, and Arella violated certain registration provisions of the federal securities laws for transfers of millions of Spencer shares done to evade registration requirements..

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