SEC v. Fruit Street Health, P.B.C., No. LR-26165, Southern District of New York (Oct. 28, 2024) — Press Release
raw: Fruit Street Health, P.B.C.
Fruit Street Health, P.B.C., No. 1:24-mc-00494 (S.D.N.Y. Oct. 28, 2024)
The SEC filed a subpoena enforcement action against Fruit Street Health, P.B.C. to compel document production for an investigation into potential unregistered securities offerings and misleading statements.
The SEC is investigating whether Fruit Street Health, P.B.C. violated federal securities laws through false statements and unregistered offerings. The agency filed an enforcement action in the Southern District of New York to compel compliance with an October 2023 subpoena. While specific dollar amounts are not yet finalized, the litigation aims to secure documents related to the company's securities activities.
The SEC has initiated a subpoena enforcement action against New York-based Fruit Street Health, P.B.C., to compel the production of documents for an ongoing investigation. The agency is investigating whether the company and its affiliates violated federal securities laws by making false and misleading statements to investors and conducting an unregistered securities offering. Despite an initial subpoena issued on October 27, 2023, Fruit Street has failed to produce all required responsive documents. The SEC filed the action in the U.S. District Court for the Southern District of New York to secure a court order for compliance. At this stage, the SEC has not yet concluded that specific individuals or entities have violated federal laws. The investigation remains in the fact-finding phase as the agency seeks critical evidence regarding the company's securities offerings.
Exhibits & Attached Documents (1)
Extracted insights
- company Fruit Street Health, P.B.C.
- agency Securities and Exchange Commission
- Securities And Exchange Commission filed a subpoena enforcement action Fruit Street Health, P.B.C.
- Securities And Exchange Commission issued a subpoena Fruit Street Health, P.B.C.
- Fruit Street Health, P.B.C. has not produced all responsive documents
- Securities And Exchange Commission is investigating whether Fruit Street and others affiliated with it violated the federal securities laws by making false and misleading statements to investors and conducting an unregistered offering of securities
- Securities And Exchange Commission is seeking documents from Fruit Street related to its securities offerings
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26165 / October 28, 2024 Securities and Exchange Commission v. Fruit Street Health, P.B.C., No. 1:24-mc-00494 (S.D.N.Y. filed Oct. 25, 2024) SEC Seeks Court Order Requiring New-York-Based Company to Comply with Subpoena The Securities and Exchange Commission announced that it filed a subpoena enforcement action against Fruit Street Health, P.B.C., a company conducting business from New York, New York, for failing to produce documents pursuant to an SEC investigative subpoena. The filed action seeks an order directing Fruit Street to comply with the subpoena. According to the SEC’s application and supporting papers filed in the U.S. District Court for the Southern District of New York, the SEC is investigating whether Fruit Street and others affiliated with it violated the federal securities laws by making false and misleading statements to investors and conducting an unregistered offering of securities. The SEC’s application states that it is seeking documents from Fruit Street related to its securities offerings. On October 27, 2023, the SEC issued a subpoena for documents to Fruit Street. According to the SEC’s filings, despite repeated attempts to secure compliance with the subpoena, Fruit Street has not produced all responsive documents. The SEC's application seeks an order from the court directing Fruit Street to comply with the subpoena. The SEC is continuing its fact-finding investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws.
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26165 / October 28, 2024 Securities and Exchange Commission v. Fruit Street Health, P.B.C., No. 1:24-mc-00494 (S.D.N.Y. filed Oct. 25, 2024) SEC Seeks Court Order Requiring New-York-Based Company to Comply with Subpoena The Securities and Exchange Commission announced that it filed a subpoena enforcement action against Fruit Street Health, P.B.C., a company conducting business from New York, New York, for failing to produce documents pursuant to an SEC investigative subpoena. The filed action seeks an order directing Fruit Street to comply with the subpoena. According to the SEC’s application and supporting papers filed in the U.S. District Court for the Southern District of New York, the SEC is investigating whether Fruit Street and others affiliated with it violated the federal securities laws by making false and misleading statements to investors and conducting an unregistered offering of securities. The SEC’s application states that it is seeking documents from Fruit Street related to its securities offerings. On October 27, 2023, the SEC issued a subpoena for documents to Fruit Street. According to the SEC’s filings, despite repeated attempts to secure compliance with the subpoena, Fruit Street has not produced all responsive documents. The SEC's application seeks an order from the court directing Fruit Street to comply with the subpoena. The SEC is continuing its fact-finding investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws.