Praxsyn Corp. and its CEO will pay the SEC $65,000 combined to resolve accusations they falsely claimed to have access to N95 masks early in the coronavirus pandemic, according to documents filed Friday in Florida federal court.
The healthcare company and CEO Frank J. Brady issued two press releases falsely claiming access to medical masks that could protect wearers from the virus that causes Covid-19, then walked back the statements in another release after the company’s share price went up, the Securities and Exchange Commission told the U.S. District Court for the Southern District of Florida.
The settlement, which ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.