An individual from Virginia settled SEC charges for conspiring to manipulate the price of certain issuer securities through false regulatory filings.
According to the SEC Complaint, Mark E. Burns conspired with Robert W. Murray to file false information through the SEC's Electronic Data Gathering, Analysis and Retrieval ("EDGAR") public database in an attempt to manipulate the price of Fitbit, Inc. ("Fitbit") securities.
Mr. Burns agreed to the entry of judgment, which will permanently bar him from violating the anti-fraud provisions of the federal securities laws and require him to pay $13,886 in disgorgement and prejudgment interest, as well as a civil penalty of $60,000.
Mr. Murray previously pled guilty to one count of criminal securities fraud, and also settled with the SEC.
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