Getty Images Takeover Bid Was 'Old-Fashioned Pump-And-Dump Scheme,' Finds SEC: Massachusetts Man Pleads Guilty
Portfolio Pulse from Anan Ashraf
The SEC has charged Robert Scott Murray and Trillium Capital LLC with a fraudulent scheme to manipulate the stock price of Getty Images Holdings Inc (NYSE: GETY) by falsely announcing a buyout offer. Murray has pleaded guilty and agreed to a judgment that includes permanent prohibitions and restrictions on his future activities.
June 01, 2024 | 3:49 pm
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Getty Images Holdings Inc (NYSE: GETY) was involved in a fraudulent scheme by Robert Scott Murray and Trillium Capital LLC to manipulate its stock price through a false buyout offer. The SEC has charged Murray, who has pleaded guilty.
The fraudulent scheme and subsequent legal actions are likely to negatively impact investor confidence in Getty Images, leading to potential short-term price declines.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100