The sun is shining, children are out of school, families are headed off on summer vacations, and the SEC is … bringing enforcement actions against companies for 2020 fraud related to COVID-19 products. One such action was recently filed against SCWorx Corp. and its former CEO and chairman, Marc Schessel.1 In bringing charges almost two years after the fraudulent statements at issue were made, the SEC has confirmed our expectation that it is prepared to take a long-term approach to COVID-related fraud cases. SCWorx also creates the potential for increased flexibility in how defendants are able to satisfy disgorgement obligations in the future.
‘Enforcement 40’ for 2020
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