The SEC took action against 23 companies for making false claims about COVID-19 - Business Insider

A general exterior view of the U.S. Securities and Exchange Commission headquarters in Washington, June 24, 2011.The Securities and Exchange Commission has taken action against 23 companies for making false claims about coronavirus.

The federal agency said in a statement: "We have become aware of a number of Internet promotions, including on social media, claiming that the products or services of publicly traded companies can prevent, detect, or cure coronavirus, and that the stock of these companies will dramatically increase in value as a result."

The SEC can stop a stock from trading for up to 10 days if it believes information posted by a company is inaccurate. A halt prevents investors from selling their shares for at least the duration of the trading suspension. They face greater risk because there is usually limited public information about microcap companies' management, products, and services.

donkos24 Why does the president get away with making false claims about covid19?

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's how Berkshire Hathaway's companies are faring amid COVID-19 - Business Insider'We're like the captain of a ship when the worst typhoon that's ever happened comes,' Buffett's right-hand man Charlie Munger told The Journal in April.
Source: BusinessInsider - 🏆 729. / 51 Read more »

IBM testing COVID-19 contact tracing app with employees in India - Business InsiderIBM's tool will notify employees who came near a coworker reporting symptoms and will only store data for 16 days to protect employees' privacy.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Truework is building a COVID-19 tool to verify who can return to work - Business InsiderThe 27-year-old CEO of Truework explains how it's building a new tool to help companies track which of their employees have been infected with COVID-19 'HIPAA? Never heard of it.' So HIPAA doesn’t exist anymore? Okaaaay.
Source: BusinessInsider - 🏆 729. / 51 Read more »