Defendant Name:
Medley Management Inc.
Defendant Type:
Public Company
SIC Code:
6282
CUSIP:
58503T20
Document Reference:
33-11057
Document Details
Legal Case Name
In the Matter of Medley Management Inc., Brook B. Taube and Seth B. Taube
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933, Section 21C of the Securities Exchange Act of 1934, and Sections 203(e), 203(f) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
28-Apr-2022
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On April 28, 2022, the SEC instituted administrative and cease-and-desist proceedings against Medley Management Inc., Brook B. Taube and Seth B. Taube stating: "This case involves misrepresentations to investors by Medley Management Inc. (“MDLY”), its affiliate Medley LLC (Medley LLC and, together with MDLY, “Medley”) and its co-CEOs, Brook Taube (“B. Taube”) and Seth Taube (“S. Taube” and, together with B. Taube, “the Taubes”). Since at least August 2016, Medley negligently overstated an important financial metric, its assets under management (“AUM”), creating a misleading appearance of likely future growth."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Monetary Penalties:
Civil Penalty
Individual:
$4,000,000.00
Shared:
Other Defendants in Action:
