SEC v. In Ovations Holdings, Inc.; and Mark Goldberg, No. LR-25589, Eastern District of New York (Dec. 9, 2022) — Press Release
raw: In Ovations Holdings, Inc. and Mark Goldberg
In Ovations Holdings, Inc. and Mark Goldberg, No. 1:18-cv-05026 (E.D.N.Y. Dec. 9, 2022)
The U.S. District Court entered a final judgment against In Ovations Holdings, Inc. and former CEO Mark Goldberg for issuing fraudulent press releases to induce investor purchases.
The court imposed a $150,000 civil penalty against In Ovations Holdings, Inc. for its role in a scheme involving materially false press releases between 2014 and 2015. The SEC alleged that the company's then-CEO received approximately $250,000 from stock promoters to facilitate these deceptive communications. The final judgment also enjoins the company from violating Section 10(b) of the Securities Exchange Act and Rule 10b-5.
The United States District Court for the Eastern District of New York has entered a final judgment against In Ovations Holdings, Inc. and its former CEO, Mark Goldberg. Between 2014 and 2015, the defendants issued materially false press releases designed to fraudulently induce investors to purchase Ovations stock. The SEC's complaint alleged that the CEO received roughly $250,000 from stock promoters in exchange for his role in disseminating these misleading statements. As a result of the litigation, the court imposed a $150,000 civil penalty against In Ovations and enjoined the company from violating antifraud provisions of the Securities Exchange Act. A separate final judgment against the former CEO had been entered earlier in October 2022. The SEC noted the assistance of the U.S. Attorney's Office for the Eastern District of New York in resolving the matter.
Exhibits & Attached Documents (1)
Extracted insights
- $250K $250,000 $100K–$1M
- $150K $150,000 $100K–$1M
- company a civil penalty of $150,000 on in ovations holdings, inc.
- company a final judgment against in ovations holdings, inc.
- person chief executive officer
- company In Ovations Holdings, Inc.
- person mark goldberg
- agency Securities and Exchange Commission
- court united states district court for the eastern district of new york
- Securities And Exchange Commission alleged that In Ovations Holdings, Inc. and its then CEO issued materially false press releases to fraudulently induce investors to buy Ovations stock
- Chief Executive Officer received approximately $250,000 from one or more stock promoters at least partly in return for issuing false or misleading press releases
- United States District Court for the Eastern District of New York entered a final judgment against In Ovations Holdings, Inc.
- United States District Court for the Eastern District of New York imposes a civil penalty of $150,000 on In Ovations Holdings, Inc.
- United States District Court for the Eastern District of New York entered a final judgment against the prior CEO on October 6, 2022
Court Enters Final Judgment Against Microcap Company and Orders Penalty for Fraudulent Press Releases Litigation Release No. 25589 / December 9, 2022 Securities and Exchange Commission v. In Ovations Holdings, Inc. and Mark Goldberg, No. 1:18-cv-05026 (E.D.N.Y., filed September 5, 2018) On November 2, 2022, the United States District Court for the Eastern District of New York entered a final judgment against In Ovations Holdings, Inc. (OTC: "INOH"), a Colorado corporation headquartered in Wabbaseka, Arkansas. The SEC's Complaint, filed on September 5, 2018, alleged that from at least 2014 through 2015 Ovations and its then CEO issued materially false press releases to fraudulently induce investors to buy Ovations stock. According to the SEC's Complaint, the CEO received approximately $250,000 from one or more stock promoters at least partly in return for the CEO's role in issuing Ovations' false or misleading press releases. The final judgment entered against Ovations enjoins it from violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and imposes a civil penalty of $150,000. A final judgment against the prior CEO was entered on October 6, 2022 (LR No. 25559). The SEC appreciates the assistance of the U.S. Attorney's Office for the Eastern District of New York. SEC Complaint
Court Enters Final Judgment Against Microcap Company and Orders Penalty for Fraudulent Press Releases Litigation Release No. 25589 / December 9, 2022 Securities and Exchange Commission v. In Ovations Holdings, Inc. and Mark Goldberg, No. 1:18-cv-05026 (E.D.N.Y., filed September 5, 2018) On November 2, 2022, the United States District Court for the Eastern District of New York entered a final judgment against In Ovations Holdings, Inc. (OTC: "INOH"), a Colorado corporation headquartered in Wabbaseka, Arkansas. The SEC's Complaint, filed on September 5, 2018, alleged that from at least 2014 through 2015 Ovations and its then CEO issued materially false press releases to fraudulently induce investors to buy Ovations stock. According to the SEC's Complaint, the CEO received approximately $250,000 from one or more stock promoters at least partly in return for the CEO's role in issuing Ovations' false or misleading press releases. The final judgment entered against Ovations enjoins it from violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and imposes a civil penalty of $150,000. A final judgment against the prior CEO was entered on October 6, 2022 (LR No. 25559). The SEC appreciates the assistance of the U.S. Attorney's Office for the Eastern District of New York. SEC Complaint