Oleg Zabluda's blog
Monday, March 13, 2017
 
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SEC, which is investigating Theranos and widely expected to use a case against it to expand its mandate into Silicon Valley’s startup ecosystem. [...] has the authority to chase after private companies that engage in any “act or omission resulting in fraud or deceit in connection with the purchase or sale of any security.” And lately, Wall Street’s top cop is finding Silicon Valley too high-profile a target to resist.

“If you’re only raising couple million bucks, everyone expects your huffing and puffing,” says one San Francisco-based securities attorney. “But if you’re raising hundreds of millions to billions of dollars, why would the SEC ignore that when they’re auditing the financials of some piddly company that’s raising $50 million in an IPO?”
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https://techcrunch.com/2016/10/17/the-sec-gets-the-case-its-been-waiting-for-in-silicon-valley/
https://techcrunch.com/2016/10/17/the-sec-gets-the-case-its-been-waiting-for-in-silicon-valley/

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