MGT Capital CEO Faces SEC’s Redone Claims in Pump and Dump Suit

Robert Ladd, the CEO and director of MGT Capital Investments, will face additional fraud claims in a lawsuit brought by the SEC over an alleged “pump and dump” scheme, after the U.S. District Court for the Southern District of New York largely denied his motion to dismiss the regulator’s amended complaint.

Ladd was already facing allegations that he falsely hyped up a connection to famed tech entrepreneur John McAfee. Ladd said McAfee had sold his company, McAfee Associates, for $7.6 billion, in a press release announcing the 2016 merger between MGT and McAfee’s company D-Vasive Inc.—even though that sale took ...