11th Circuit Upholds Disgorgement Entered Against Unregistered Stock Dealer

( May 31, 2024, 2:06 PM EDT) -- ATLANTA — The owner of a business that bought convertible debt notes from microcap issuers acted as an unregistered dealer of securities, a panel of the 11th Circuit U.S. Court of Appeals found, affirming a Florida federal judge’s decision to grant summary judgment in favor of the Securities and Exchange Commission and enter nearly $9 million in penalties and disgorgement against the man....