The SEC sued software company C-Hear Inc. and its former CEO Adena Harmon for allegedly misleading investors about the company’s technology and misappropriating investor funds for personal expenses.
Harmon and company representatives made false claims to investors, including that their software product was being tested by third parties and that the federal government had tried unsuccessfully to hack their technology, according to the Securities and Exchange Commission’s complaint Thursday in the US District Court for the Northern District of Texas.
Harmon also failed to disclose her history of financial crimes and prison time, the SEC said.
C-Hear raised more than ...
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