Ex-MoviePass CEO Submits to Ban, Settling SEC Allegations

Dec 30, 2024 · Ex-MoviePass CEO Submits to Ban, Settling SEC Allegations The judgment comes shortly after Theodore "Ted" Farnsworth was sued over his alleged secret leadership of another media company.

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Former MoviePass CEO Pleads Guilty To Fraud, Faces Up To 25

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Jan 7, 2025 · Ted Farnsworth, the former CEO of MoviePass and guy who had the bright idea to charge $9.95 per month for unlimited film screenings, has admitted to defrauding investors in …

gizmodo.com

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SEC Sues MoviePass Executives For Lying About Its Completely ...

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Sep 28, 2022 · The SEC has sued three former executives linked with cinema subscription service MoviePass for lying about the service’s unsustainable $9.95 user plan.

theverge.com

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SEC Sues Former MoviePass Executives For Fraud - Engadget

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Sep 27, 2022 · The SEC’s lawsuit also names former MoviePass business development executive Khalid Itum as a defendant. Itum allegedly pocketed $310,000 by submitting false …

engadget.com

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EV Startup Canoo Tentatively Settles $61 Million Investor Suit

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Oct 23, 2024 · Ex-MoviePass CEO Submits to Ban, Settling SEC Allegations ... Software Developers Ends in $24M Settlement ... Court by attorney Robert M. Berke on behalf of former …

law.com

FAQs about Ex-MoviePass CEO Submits to Ban, Settling SEC Allegations Coupon?

Why is the SEC suing MoviePass execs?

As MoviePass works toward a relaunch under new leadership, the SEC is taking action against three former execs for alleged federal securities law violations in connection with the previous iteration of the service. The SEC on Monday filed a complaint against Ted Farnsworth, Mitch Lowe and Khalid Itum in New York federal court. ...

Did MoviePass violate federal securities laws?

The Securities and Exchange Commission continues to pursue a case against Lowe for alleged violations of federal securities laws concerning key aspects of MoviePass’s business model. The allegations involve Lowe knowingly approving false invoices that disguised bonus payments as services provided by an entity Itum controlled. ...

Did MoviePass mislead investors?

The US Securities and Exchange Commission has filed a lawsuit against two former MoviePass executives. In a federal complaint seen by Bloomberg, the agency accused Theodore Farnsworth and Mitch Lowe on Monday of misleading investors about the viability of the company’s $9.95 per month business model. ...

Was 'MoviePass' a securities fraud scheme?

“Farnsworth’s plans and promises for MoviePass seemed too good to be true — they were in fact part of a securities fraud scheme,” said James Dennehy, the assistant director in charge of FBI’s New York field office. “As he admitted [Tuesday], Farnsworth’s ploys and boasts were actually lies and misrepresentations designed to boost stock prices.” ...

Did MoviePass' CEO make false claims to the public?

Former MoviePass CEO J. Mitchell Lowe and Theodore Farnsworth, former CEO of majority stakeholder Helios and Matheson Analytics Inc., allegedly made false claims to the public and in regulatory filings. ...

Did MoviePass lied to investors?

Ahead of the official of subscription-based movie ticketing service MoviePass, the Securities and Exchange Commission (SEC) filed a complaint against three of its former executives, claiming they lied to investors and the public. ...