The Securities and Exchange Commission (SEC) has filed a lawsuit against David Banister and The Market Analysts Group, LLC.
The relevant complaint was submitted at the New York Southern District Court on December 6, 2024.
The SEC’s Complaint alleges that, between December 2020 and March 2021 (the “Relevant Period”), Banister and Market Analysts—Banister’s wholly owned business—engaged in a fraudulent scheme to manipulate the stock of a public company, BioVie Inc.
The defendants promoted BioVie to investors—encouraging them to buy and hold the stock—while concealing Banister’s plans to sell his own BioVie shares.
The defendants perpetrated this scheme through subscription-based stock advisory services that they owned and controlled, as well as postings…
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