Action against Defendants, four attorneys and a real estate agent, for alleged microcap fraud.  According to the SEC, Defendants formed a microcap company and issued shares to friends, family, and co-workers.  The SEC alleges that Defendants then filed a Form S-1 that falsely stated that the shareholders had acquired the shares for investment purposes and that Defendants did not control the shares.  According to the SEC, Defendants subsequently sold shares of the microcap firm to the public and merged it into a biotech firm, which was separately charged in April 2018.

SEC Complaint

SEC Litigation Release