SEC Sues Meyer Global Management and Its CEO for Alleged Fraud in SpaceX and Other Pre-IPO Securities Investments

Techub News reports that the U.S. Securities and Exchange Commission (SEC) today sued private fund advisor Meyer Global Management LLC (MGM) and its CEO Owen E.H. Meyer, alleging that they defrauded investors and funds managed by MGM in investments involving SpaceX and other Pre-IPO securities. The SEC charged that MGM and its CEO made false statements, failed to disclose conflicts of interest, and misappropriated fund assets while marketing and operating two private funds focused on Pre-IPO investments to retail investors. (SEC press release)