SEC Settles With Firms Over Pre-IPO Facebook Trading

Law360, New York (March 10, 2014, 6:36 PM EDT) -- A federal judge on Monday approved a consent judgment that settles U.S. Securities and Exchange Commission claims against Frank Mazzola and his two firms for $500,000, concluding a two-year case involving funds set up to buy securities in Facebook Inc. and other companies ahead of their initial public offerings. 

In March 2012, Mazzola and his two firms — Felix Investments LLC and Facie Libre Management Associates LLC — were accused of lying to investors who had bought into two funds created specifically to buy securities of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.