Defendant Name:
Lion Biotechnologies, Inc.
Defendant Type:
Public Company
SIC Code:
4731
CUSIP:
53619R10
Document Reference:
33-10340
Document Details
Legal Case Name
In the Matter of Lion Biotechnologies, Inc.
Document Name
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
Document Date
10-Apr-2017
Document Format
Administrative Proceeding
Allegation Type
Market Manipulation
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Monetary Penalties:
Civil Penalty
Individual:
$100,000.00
Shared:
