The Securities and Exchange Commission (SEC) has obtained a final judgment in its case against Lupo Securities LLC.
On December 4, 2023, the Honorable John Robert Blakey of the Illinois Northern District Court signed the final judgment as to Lupo Securities.
The Court ordered that the defendant is permanently restrained and enjoined from violating Rule 14e-4 [17 C.F.R. § 240.14e-4], promulgated under the Securities Exchange Act of 1934 (“Exchange Act”), by acting alone or in concert with others, directly or indirectly, to tender any subject security in a partial tender offer for its own account where its net long position is not equal to or greater than the amount tendered in a subject security or an equivalent security.
The defendant is liable for disgorgement of $420,000, representing net profits gained as a result of the conduct…
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