Va. Man Charged With $100M Fitbit Stock Manipulation Fraud

Law360, New York (May 19, 2017, 7:38 PM EDT) -- Manhattan federal prosecutors on Friday charged a Virginia man with orchestrating a $100 million stock manipulation scheme using shares of Fitbit, in which he posed as an officer of a Chinese company and tendered a sham offer for all of the wearable technology company’s outstanding stock.

Robert W. Murray, 24, of Chesapeake, Virginia, was arrested and charged with securities fraud and wire fraud for filing a bogus tender offer with the Securities and Exchange Commission to buy all outstanding Fitbit stock at a premium, causing a bump...
To view the full article, register now.



Case Information

Case Title

SEC v. Murray

Case Number



New York Southern

Nature of Suit


Date Filed

May 19, 2017


Government Agencies

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.