Some three years after Adani first faced questions about fraud and stock manipulation at his ports-to-power conglomerate, Tokyo-based Nomura was sued by a fund owned by Elara Capital Plc over an urgent cash demand that allegedly cost it tens of millions of dollars. The Elara fund, known as Some of Nomura’s most senior bankers in Asia were spooked and wanted to cut the size of the loans, according to the bank’s defense filed Jan. 5. The Elara fund claimed that the bank requested $205 million in cash to rec ...

Core Viewpoint - The U.S. Attorney's Office for the District of New Jersey has filed criminal charges against six individuals for securities fraud, insider trading, and conspiracy, with allegations stemming from insider information related to merger and acquisition deals [1] Group 1: Allegations and Charges - The SEC alleges that between June 2020 and February 2024, an investment banker named Kim provided insider information to Saad Shoukat regarding nine potential merger and acquisition deals [1] - Saad Shoukat allegedly shared this insider information with his brothers, Khan and Okonkwo, leading to illicit trading profits of approximately US$41 million [2] Group 2: Manipulation of Securities - The Shoukat brothers are accused of manipulating the securities of Olema Pharmaceuticals Inc. and Opiant Pharmaceuticals Inc. [2] - In the Olema case, Saad and Arham Shoukat allegedly impersonated doctors to obtain confidential information about clinical trials and published false positive results to inflate the stock price [3] - They profited from trading Olema's stock before the misinformation was corrected, benefiting from the temporarily inflated stock price [4] Group 3: False Press Releases - In a separate scheme, the Shoukat brothers purchased Opiant stock based on insider information from Kim, which indicated that Opiant was a takeover target [5] - When the anticipated deal did not occur, the brothers allegedly issued a false press release about a fictitious partnership to artificially boost Opiant's stock price, allowing them to sell at a higher price [5] Group 4: Regulatory Actions - The SEC is seeking permanent injunctive relief, disgorgement of ill-gotten gains with interest, and civil penalties against the six individuals involved, along with a permanent prohibition against Kim [6]

Core Viewpoint - Gorilla Technology Group Inc. has filed a lawsuit against Sigma Global Fund and Bradbury Private Investments, alleging stock manipulation that harmed shareholders and violated legal obligations [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Sigma and Bradbury engaged in a scheme to artificially depress Gorilla's stock price, allowing them to acquire additional shares at minimal cost [1]. - The company asserts that these actions were designed to exploit Contingent Value Rights (CVRs) and extract unearned value, particularly after a significant stock decline in December 2022 [2][3]. - An economic analysis firm found no publicly available information to explain the stock's decline, which triggered CVR distributions to Sigma and Bradbury [2][3]. Group 2: Timeline of Events - October 2021: Sigma and Bradbury were introduced to Gorilla's management [3]. - February 2022: Sigma and Bradbury committed to invest up to $50 million upon the merger's closing [3]. - March 2022: Sigma demanded the implementation of a CVR structure [3]. - December 2022: Gorilla's stock experienced significant declines, leading to CVR distributions [3]. - April 2023: Sigma proposed to take over Gorilla by removing three directors [3]. - Summer 2023: An investigation found no public information explaining the stock's abnormal decline [3]. Group 3: Company Commitment - The company emphasizes its commitment to transparency and accountability, stating that the lawsuit is a necessary step to protect shareholder value [2][4]. - Gorilla has made the full complaint public and will provide updates as the litigation progresses [4]. - The company does not intend to distribute shares underlying CVRs held by Sigma, Bradbury, or their affiliates [5][6]. Group 4: Company Overview - Gorilla Technology Group Inc. is headquartered in London and specializes in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology [7]. - The company offers solutions across various sectors, including Government, Manufacturing, Telecom, Retail, Transportation, Healthcare, and Education, utilizing AI and Deep Learning technologies [7][8]. - Gorilla focuses on enhancing urban operations, security, and resilience through AI-driven technologies [8].

Core Viewpoint - The SEC has suspended trading of QMMM Holdings due to concerns over potential stock manipulation following a significant increase in its stock price after announcing a crypto treasury pivot [2][3]. Company Summary - QMMM Holdings, a digital advertising firm, announced plans to invest $100 million in cryptocurrencies including Bitcoin, Ethereum, and Solana, leading to a stock price increase of over 2,100% in September, closing at $119.40 [1][4]. - The SEC's suspension of trading is set until October 10 as they investigate potential manipulation linked to social media recommendations encouraging investors to buy QMMM securities [2][3]. Industry Summary - The SEC and FINRA are increasing scrutiny on companies engaging in cryptocurrency purchases with excess cash, following reports of unusual trading activity [5]. - Companies that have adopted crypto treasury strategies have often experienced significant, albeit sometimes temporary, increases in their stock prices [6].

Regulatory Action - US SEC suspended trading in QMMM Holdings Ltd [1] Stock Performance - QMMM Holdings Ltd shares surged almost 1,000% in less than three weeks [1] Potential Risk - The digital media advertising firm's stock may have been manipulated by touts on social media [1]

A prominent Turkish market commentator was among those released on judicial control amid an investigation into alleged stock manipulation, state-run Anadolu Agency reported https://t.co/fna7AOGbWK ...

Turkish authorities detained 14 people, including one former Wall Street trader, in connection with an investigation into alleged stock manipulation https://t.co/IhLtgyzaoW ...

The wife of impeached South Korean President Yoon Suk Yeol was arrested in an ongoing investigation into allegations ranging from suspected stock manipulation to bribery, investigators said https://t.co/qm6589Fdyy ...