Business

SEC Charges Fake Filer With Manipulating Fitbit Stock

The Securities and Exchange Commission today filed fraud charges against a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. According to the SEC’s complaint, Robert W. Murray purchased Fitbit call options just minutes before a fake tender offer that…

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China Stock Sellers Frozen Out of 71% of Market

Investors trying to sell Chinese shares have found themselves locked out of 72 percent of the market. At least 1,331 companies have halted trading on mainland exchanges, freezing $2.6 trillion of shares, or about 40 percent of the country’s market capitalization. Another 747 fell by the 10 percent daily limit…