SEC spares tech companies fines in bid to bolster remediation

By Al Barbarino (January 28, 2022, 10:40 PM EST) – The U.S. Securities and Exchange Commission settled fraud complaints against technology company HeadSpin Inc. on Friday without levying monetary penalties following the ousting by its chief executive’s firm, playing the trick in an announcement as the agency seeks to clarify the kinds of cooperation and remediation that could potentially save companies millions in fines.

The complaint filed with the SEC in the Northern District of California alleges that between 2018 and 2020 at least, former HeadSpin CEO Manish Lachwani engaged in a fraudulent scheme to increase the valuation of the company based in Silicon Valley to over a billion dollars.

The commission has already gone after…

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