trading of the securities of Evolution Global Capital Partners, Inc. (Evolution),
trading of the securities of Evolution Global Capital Partners, Inc. (Evolution),, No. 2:07-CV-00506 (Jan. 18, 2008)
The U.S. SEC suspended trading in Evolution Global Capital Partners, Inc. from September 24 to October 5, 2007, due to concerns over market manipulation and insufficient public information regarding undisclosed individuals with prior fraud histories, unclear financials, and opaque foreign offerings, without filing formal charges or citing dollar amounts.
The U.S. Securities and Exchange Commission temporarily suspended trading in Evolution Global Capital Partners, Inc. from September 24 to October 5, 2007, under Section 12(k) of the Securities Exchange Act of 1934. The suspension was prompted by concerns over potential market manipulation and the lack of reliable public information, including the identities of individuals linked to the company—some with prior securities fraud judgments—its financial performance, and the nature of offerings to foreign investors and resale restrictions. No formal charges, monetary penalties, or specific accused parties were identified, as the action was a precautionary measure to protect investors until adequate disclosure could be established.
The U.S. Securities and Exchange Commission temporarily suspended trading in Evolution Global Capital Partners, Inc. from September 24 to October 5, 2007, under Section 12(k) of the Securities Exchange Act of 1934. The suspension was initiated due to concerns that the market may have been influenced by manipulative or deceptive practices and that insufficient current public information existed to support informed investment decisions. Specifically, the SEC highlighted three key deficiencies: the undisclosed identities of individuals involved in the offer or sale of Evolution shares, some of whom had prior securities fraud judgments; the lack of transparent financial performance and business prospects; and unclear details regarding offerings to foreign investors and restrictions on share resale. No formal charges, monetary penalties, or named individuals were cited in the order, as this was a precautionary trading halt, not an enforcement action. The SEC warned brokers, dealers, and investors to exercise caution and emphasized that no quotations could resume until Rule 15c2-11 compliance was strictly met. The Commission urged anyone with relevant information to contact its staff and reiterated that failure to comply with Rule 15c2-11 could trigger prompt enforcement action. The suspension aimed to protect investors by halting trading until verified, accurate information about the company became publicly available.
Extracted insights
- organization The Commission
- U.S. Securities and Exchange Commission announced the temporary suspension of trading of the securities of Evolution Global Capital Partners, Inc.
- The Commission temporarily suspended trading in the securities of Evolution
- The Commission cautions brokers, dealers, shareholders and prospective purchasers
- Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC
- the Commission will consider the need for prompt enforcement action
- any broker, dealer or other person should contact Gregory G. Faragasso, Assistant Director
U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. SECURITIES EXCHANGE ACT OF 1934 Release No. 56500 / September 24, 2007 SECURITIES AND EXCHANGE COMMISSION SUSPENDS TRADING IN EVOLUTION GLOBAL CAPITAL PARTNERS, INC. The U.S. Securities and Exchange Commission announced the temporary suspension of trading of the securities of Evolution Global Capital Partners, Inc. (Evolution), commencing at 9:30 a.m. EDT on September 24, 2007 and terminating at 11:59 p.m. EDT on October 5, 2007. The Commission temporarily suspended trading in the securities of Evolution because the market may be reacting to manipulative forces or deceptive practices and there is insufficient current public information about the issuer upon which an informed investment decision may be made, particularly concerning (1) the identity of and prior securities fraud judgments against persons who appear to be involved in the offer and sale, or in connection with the purchase or sale, of Evolution shares; (2) the financial performance and business prospects of Evolution; and (3) offerings to foreign investors and any restrictions on the resale of shares. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act) Section 12(k). The Commission cautions brokers, dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by this company. Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2- 11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject company unless and until the broker or dealer has strictly complied with all of the provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to the securities of this company that has been subject to a trading suspension until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at (202) 551-5720. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action. If any broker, dealer or other person has any information which may relate to this matter, they should contact Gregory G. Faragasso, Assistant Director, at (202) 551-4734, or by email at [email protected].
U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. SECURITIES EXCHANGE ACT OF 1934 Release No. 56500 / September 24, 2007 SECURITIES AND EXCHANGE COMMISSION SUSPENDS TRADING IN EVOLUTION GLOBAL CAPITAL PARTNERS, INC. The U.S. Securities and Exchange Commission announced the temporary suspension of trading of the securities of Evolution Global Capital Partners, Inc. (Evolution), commencing at 9:30 a.m. EDT on September 24, 2007 and terminating at 11:59 p.m. EDT on October 5, 2007. The Commission temporarily suspended trading in the securities of Evolution because the market may be reacting to manipulative forces or deceptive practices and there is insufficient current public information about the issuer upon which an informed investment decision may be made, particularly concerning (1) the identity of and prior securities fraud judgments against persons who appear to be involved in the offer and sale, or in connection with the purchase or sale, of Evolution shares; (2) the financial performance and business prospects of Evolution; and (3) offerings to foreign investors and any restrictions on the resale of shares. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act) Section 12(k). The Commission cautions brokers, dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by this company. Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2- 11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject company unless and until the broker or dealer has strictly complied with all of the provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to the securities of this company that has been subject to a trading suspension until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at (202) 551-5720. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action. If any broker, dealer or other person has any information which may relate to this matter, they should contact Gregory G. Faragasso, Assistant Director, at (202) 551-4734, or by email at [email protected].