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.