Defendant Name: Lion Biotechnologies, Inc. 

Defendant Type: Public Company
SIC Code: 4731
CUSIP: 53619R10

Initial Case Details

Legal Case Name In the Matter of Lion Biotechnologies, Inc.
First Document Date 10-Apr-2017
Initial Filing Format Administrative Action
File Number 3-17914
Allegation Type Market Manipulation

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
Securities Act
• Sec 17(a)(1)
• Sec 17(a)(3)
Other
• Section 5(b)(1) Securities Act

Related Violations Alleged

Lion Biotechnologies, Inc.  is alleged to have caused Lidingo Holdings, LLC's violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Lion Biotechnologies, Inc.  is alleged to have caused Lidingo Holdings, LLC's violation of Sec 17(a) (Not specified) of the Securities Act.
Lion Biotechnologies, Inc.  is alleged to have caused Lidingo Holdings, LLC's violation of Section 17(b) Securities Act.

Resolutions

First Resolution Date 10-Apr-2017
Headline Total Penalty and Disgorgement $100,000

Related Documents:

33-10340 10-Apr-2017 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On April 10, 2017, the SEC instituted a settled proceeding against Lion Biotechnologies, Inc. According to the SEC: "Lion, through its former Chief Executive Officer, Manish Singh, engaged in a scheme to mislead investors by commissioning over 10 internet publications and 20 widely distributed emails promoting Lion to potential investors that purported to be independent from the company when, in fact, they were paid promotions."

Related Actions:

In the Matter of Manish Singh and Lavos, LLC
Manish Singh
Lavos, LLC
In the Matter of Joel Corenman
Joel Corenman
SEC v. Lidingo Holdings, LLC, Kamilla Bjorlin, Andrew Hodge, Brian Nichols, and Vincent Cassano
Lidingo Holdings, LLC
Kamilla Bjorlin
Andrew Hodge
Brian Nichols
Vincent Cassano