SEC Sues PTG Capital, Others Over Apparently Bogus Avon Products Bid
June 04 2015 - 12:40PM
Dow Jones News
Securities regulators on Thursday sued a firm calling itself PTG
Capital Partners Ltd. and several others over an apparently bogus
takeover offer for Avon Products Inc. filed last month that rattled
traders and raised questions about the U.S. public securities
filing system.
The Securities and Exchange Commission said PTG and other firms
had "coordinated attempts to fraudulently manipulate" the price of
Avon stock and securities of Tower Group International Ltd. and
Rocky Mountain Chocolate Factory Inc.
The suit was filed in Manhattan federal court.
Write to Aruna Viswanatha at aruna.viswanatha@wsj.com
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