SEC issues cease-and-desist order against split-cycle engine developer Scuderi Group for violations of Securities Act
Green Car Congress
JUNE 1, 2013
The company’s private placement memoranda informed investors that Scuderi Group intended to use the proceeds from its offerings for “general corporate purposes, including working capital.” The PPMs provided that Scuderi Group could pay management bonuses at the discretion of its Board of Directors. million, or 4.3%
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