Archive for the ‘Initial Public Offering’ Category

Final Judgment in Under Armour Scam Case

Wednesday, June 18th, 2008

The SEC has obtained a final judgment against Ronald K. Bowen.  Bowen told his brokerage clients that he had access to the stock of Under Armour, Inc. and could sell them that stock in connection with the company’s initial public offering.  He raised $230,000 from four investors.  Bowen actually had no stock to sell.  I’m reminded of the Dire Straits song Money for Nothing

Do you know whether your broker has ever been accused of misconduct or whether regulators have ever suspended him from the industry for a few days?  The stockbroker’s trade group - FINRA - cannot answer those questions for you.  Go to someone who can, or risk giving your broker money for nothing.

SEC Brings Enforcement Action in Phony IPO Case

Tuesday, December 18th, 2007

The Securities and Exchange Commission has charged Ronald K. Bowen with raising more than $230,000 from four investors by claiming that he was soliciting investments in an initial public offering in Under Armour, Inc., a Baltimore-based sports apparel company.  (more…)