Defendant Name: SCWorx Corp.

Defendant Type: Public Company
SIC Code: 9999
CUSIP: 78396V10

Document Reference: comp-pr2022-94

Document Details

Legal Case Name SEC v. Marc S. Schessel and SCWorx Corp.
Document Name Complaint
Document Date 31-May-2022
Document Format Civil Proceeding
Case Number 22-cv-03287
Federal District Court New Jersey, District of New Jersey
Allegation Type Securities Offering
Document Summary The Commission stated: "[i]n April 2020, during the outbreak of the coronavirus disease 2019 (COVID-19) pandemic, NASDAQ-listed securities issuer SCWorx Corp. (ticker: WORX) and its Chief Executive Officer, Schessel, issued false and misleading press releases and other statements claiming that SCWorx would supply millions of COVID-19 test kits to an online healthcare company based in Fairfield, New Jersey ("Telehealth Company"), in exchange for hundreds of millions of dollars. In reality, not only was there no agreement for SCWorx to provide COVID-19 test kits to Telehealth Company, SCWorx did not even have a legitimate supplier for the COVID-19 test kits."

Related Documents:

2022-94 31-May-2022 Press Release--Civil Action
SEC Charges Company and Former CEO with Misleading Investors about Sale of COVID-19 Test Kits
The Securities and Exchange Commission "charged New York-based SCWorx Corp. and its former Chief Executive Officer and Chairman of the Board, Marc S. Schessel, with making false and misleading statements about SCWorx's plans to distribute COVID-19 rapid test kits in April 2020. SCWorx has agreed to settle the SEC's charges and will pay a $125,000 civil penalty."
court_doc4_22-cv-03287 02-Jun-2022 Court Docket Document
Final Judgment as to Defendant SCWorx Corp.
On June 2, 2022, the Court issued a final judgment as to Defendant SCWorx Corp., stating: "Defendant SCWorx Corp. . . . consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."

Other Defendants in Action:

Marc S. Schessel