Sales Stopped [View all]

[elleng]

Source: genomeweb

The US Securities and Exchange Commission has halted the sales of a handful of stocks due to claims the companies made about coronavirus.

According to the Wall Street Journal, the SEC suspended trading of the companies No Borders and Sandy Steele Unlimited. No Borders, it reports, had touted plans for new COVID-19 testing kits, but the SEC said in a statement that it had "questions and concerns regarding the adequacy and accuracy of publicly available information" from the company, including about its ability to make kits. Trading of Sandy Steele stock, meanwhile, was similarly suspended due to concerns over its claims to be able to make masks.

Additionally, NPR reports the SEC also suspended trading of Wellness Matrix Group stock. The agency says the firm had claims "made through affiliated websites and a company consultant about selling at-home COVID-19 testing kits that had been approved by the [Food and Drug Administration]." NPR notes the FDA has not authorized any at-home test for COVID-19.

Wellness Matrix Group also received a cease-and-desist letter from the city attorney of Los Angeles and is being investigated by members of the House of Representatives, NPR adds.

Read more: https://www.genomeweb.com/scan/sales-stopped#.Xo9xx8hKjIU

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Interested to see this, as haven't seen much 'relevant' SEC activity lately (my husband worked there.) And wonder what the idiot-in-chief will think of this.