{"id":74227,"date":"2020-05-22T02:02:37","date_gmt":"2020-05-22T06:02:37","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=74227"},"modified":"2020-05-22T02:02:37","modified_gmt":"2020-05-22T06:02:37","slug":"sec-charges-company-for-misleading-covid-19-claims","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2020\/sec-charges-company-for-misleading-covid-19-claims.html","title":{"rendered":"SEC Charges Company for Misleading Covid-19 Claims"},"content":{"rendered":"<p>(HedgeCo.Net) According to the SEC&#8217;s complaint, filed in federal court in the Southern District of New York, Applied BioSciences issued a press release on March 31 stating that it had begun offering and shipping supposed finger-prick COVID-19 tests to the general public that could be used for &#8220;Homes, Schools, Hospitals, Law Enforcement, Military, Public Servants or anyone wanting immediate and private results.&#8221; The complaint alleges that contrary to these claims, the tests were not intended for home use by the general public and could be administered only in consultation with a medical professional. The complaint further alleges that Applied BioSciences had not shipped any COVID-19 tests as of March 31, and its press release failed to disclose that the tests were not authorized by the U.S. Food and Drug Administration.<\/p>\n<p>The SEC&#8217;s complaint charges the company with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and seeks permanent injunctive relief and civil penalties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) According to the SEC&#8217;s complaint, filed in federal court in the Southern District of New York, Applied BioSciences issued a press release on March 31 stating that it had begun offering and shipping supposed finger-prick COVID-19 tests to the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-74227","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/74227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=74227"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/74227\/revisions"}],"predecessor-version":[{"id":74228,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/74227\/revisions\/74228"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=74227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=74227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=74227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}