https://marketmanipulation.org/cases/technique/false-rumors/ The 15 most recent enforcement records tagged false rumours in the Market Manipulation library, each linked to its primary source. Tags are our classification, not the charges. en-us Fri, 11 Apr 2025 00:00:00 GMT https://marketmanipulation.org/cases/sec-milan-v-patel-false-rumors-2025/ https://marketmanipulation.org/cases/sec-milan-v-patel-false-rumors-2025/ In April 2025 the SEC reported a final judgment, entered April 11, 2025, against Milan Vinod Patel for spreading more than 100 false rumours about public companies from December 2017 to January 2020 to sell into the temporary price rises, for illicit profits of over $1 million. The judgment enjoins him and orders $1,125,263 in disgorgement and $395,309 in interest. He pleaded guilty in a parallel criminal case and was sentenced to 18 months in prison. Fri, 11 Apr 2025 00:00:00 GMT SEC false-rumors https://marketmanipulation.org/cases/sec-milan-patel-false-rumors-2023/ https://marketmanipulation.org/cases/sec-milan-patel-false-rumors-2023/ In February 2023 the SEC charged Milan Patel with spreading more than 100 false rumors about public companies and trading on the resulting price rises. On April 11, 2025 the court entered a final judgment ordering disgorgement of $1,125,263 plus $395,309 of prejudgment interest. The SEC release also reports that Patel pleaded guilty in a parallel criminal case and received an 18-month prison sentence. Thu, 16 Feb 2023 00:00:00 GMT SEC false-rumors https://marketmanipulation.org/cases/sebi-64541-market-abuse-2022/ https://marketmanipulation.org/cases/sebi-64541-market-abuse-2022/ In October 2022 a SEBI adjudicating officer examined whether a television journalist had made a misleading report that a tribunal had approved the merger of Bharat Financial Inclusion into IndusInd Bank. He held the fraud charges not established and disposed of the proceedings with no penalty. Mon, 31 Oct 2022 00:00:00 GMT SEBI false-rumors https://marketmanipulation.org/cases/sec-charles-parrino-false-rumors-2022/ https://marketmanipulation.org/cases/sec-charles-parrino-false-rumors-2022/ In 2022, the Securities and Exchange Commission settled an action with Charles Parrino, alleging conduct this library classifies as false rumors. The release records disgorgement of $982,690. A parallel criminal matter is referenced in the release. Wed, 28 Sep 2022 00:00:00 GMT SEC false-rumors https://marketmanipulation.org/cases/sebi-63338-market-abuse-2022/ https://marketmanipulation.org/cases/sebi-63338-market-abuse-2022/ A SEBI adjudicating officer fined two partners in a Surat marketing business Rs 10 lakh, jointly and severally, in September 2022 for a text-message and website campaign that promised large gains in Global Infratech and Finance shares. The order finds the messages false and misleading and links the noticees to the website. Fri, 23 Sep 2022 00:00:00 GMT SEBI false-rumors https://marketmanipulation.org/cases/sebi-62350-market-abuse-2022/ https://marketmanipulation.org/cases/sebi-62350-market-abuse-2022/ A SEBI adjudicating officer fined two individuals Rs 20 lakh each in August 2022 over Mohit Industries shares, finding that one funded or tied himself to bulk SMS tips carrying a false claim about a new plant and that the other traded back and forth in the stock, mostly taking shares sold by the promoter group. Neither noticee replied or appeared. Thu, 25 Aug 2022 00:00:00 GMT SEBI false-rumors matched-orders https://marketmanipulation.org/cases/sebi-59535-market-abuse-2022/ https://marketmanipulation.org/cases/sebi-59535-market-abuse-2022/ In June 2022 a SEBI adjudicating officer fined five people Rs 10,00,000 jointly and severally for a bulk SMS campaign that urged recipients to buy deep out-of-the-money South Indian Bank put options on expiry day, 23 February 2017. SEBI found that a partnership that was the main seller of those options made about Rs 8.95 lakh. Fri, 03 Jun 2022 00:00:00 GMT SEBI false-rumors https://marketmanipulation.org/cases/sec-anthony-salandra-false-rumors-2022/ https://marketmanipulation.org/cases/sec-anthony-salandra-false-rumors-2022/ In 2022, the Securities and Exchange Commission settled an action with Anthony Salandra, alleging conduct this library classifies as false rumors. The release records disgorgement of $132,560. A parallel criminal matter is referenced in the release. Mon, 11 Apr 2022 00:00:00 GMT SEC false-rumors https://marketmanipulation.org/cases/sec-barton-s-ross-false-rumors-2020/ https://marketmanipulation.org/cases/sec-barton-s-ross-false-rumors-2020/ In 2020, the Securities and Exchange Commission settled an action with Barton S. Ross, alleging conduct this library classifies as false rumors. The release does not state a monetary figure that we were able to extract. A parallel criminal matter is referenced in the release. Fri, 18 Dec 2020 00:00:00 GMT SEC false-rumors https://marketmanipulation.org/cases/amf-fr-san-2020-08-false-rumors-2020/ https://marketmanipulation.org/cases/amf-fr-san-2020-08-false-rumors-2020/ On 28 July 2020 the Commission des sanctions found that EDF's press release of 8 October 2014 about the European Commission's approval of the Hinkley Point C financing wrongly said the main elements of the 2013 agreements remained unchanged. It fined EDF EUR 5,000,000 and its then chief executive EUR 50,000, and cleared his successor of a disclosure charge. Tue, 28 Jul 2020 00:00:00 GMT AMF-FR false-rumors https://marketmanipulation.org/cases/amf-fr-san-2019-04-insider-trading-2019/ https://marketmanipulation.org/cases/amf-fr-san-2019-04-insider-trading-2019/ On 17 April 2019 the Commission des sanctions found that Montaigne Fashion Group failed to disclose promptly that it had missed a payment under its court-approved continuation plan and published inexact statements, and that its chief executive, its deputy chief executive and companies linked to them sold shares while holding that information. It fined six respondents EUR 830,000 in total. Wed, 17 Apr 2019 00:00:00 GMT AMF-FR insider-trading false-rumors https://marketmanipulation.org/cases/amf-fr-san-2018-06-false-rumors-2018/ https://marketmanipulation.org/cases/amf-fr-san-2018-06-false-rumors-2018/ On 7 May 2018 the Commission des sanctions found that an anonymised listed company and its chief executive gave misleading information in a share-offer prospectus and a press release, and delayed disclosing that revenue targets would be missed. It fined the company EUR 400,000 and the executive EUR 150,000, the latter also for withholding emails from investigators. Mon, 07 May 2018 00:00:00 GMT AMF-FR false-rumors https://marketmanipulation.org/cases/amf-fr-san-2013-24-false-rumors-2013/ https://marketmanipulation.org/cases/amf-fr-san-2013-24-false-rumors-2013/ On 7 November 2013 the Commission des sanctions found that a retired finance professor and a US fund manager spread false information in August 2011, at the height of rumours about Société Générale, that its Tier 1 capital ratio was about 2 rather than the 9.3 per cent it reported. It fined them EUR 10,000 and EUR 8,000. Thu, 07 Nov 2013 00:00:00 GMT AMF-FR false-rumors https://marketmanipulation.org/cases/amf-fr-san-2010-01-false-rumors-2009/ https://marketmanipulation.org/cases/amf-fr-san-2010-01-false-rumors-2009/ In October 2009 the AMF's Commission des sanctions found that an individual had posted inaccurate and misleading claims about a listed company's accounts on a website over several weeks in mid-2007, and imposed a financial penalty of 20,000 euros. Thu, 01 Oct 2009 00:00:00 GMT AMF-FR false-rumors https://marketmanipulation.org/cases/amf-fr-san-2007-25-false-rumors-2006/ https://marketmanipulation.org/cases/amf-fr-san-2007-25-false-rumors-2006/ On 19 December 2006 the AMF Commission des sanctions found that A, chief executive of listed company X, had a duty to publicly correct specific and false claims of completed and imminent hotel sales that a journalist published on 20 May 2003 on his information, and instead had holding companies he owned sell shares after the price jumped. It fined him EUR 150,000 and rejected the insider-dealing charge. Tue, 19 Dec 2006 00:00:00 GMT AMF-FR false-rumors