Market Manipulation. Search

False rumours enforcement actions

This library records 15 enforcement actions tagged false rumours. Spreading false rumours is seeding an untrue claim about a company into channels traders read, in order to move the price and trade against the reaction before the claim can be checked.

Actions are listed newest first. Each row links to a case page carrying the regulator's own release and, where one was published, the complaint. For how this technique works and what statute it engages, read the false rumours technique page.

Actions
15
Total penalties
$0
Median penalty
—
Largest
—
Criminal parallel
33%
Action Agency Filed Penalty Status
SEC v. Milan V. Patel (false rumors, 2025) SEC 2025-04-11 — judgment
SEC v. Milan Patel (false rumors, 2023) SEC 2023-02-16 — judgment
SEBI v. Ishita Guha (alleged misleading merger news report, 2022) SEBI (India) 2022-10-31 — dismissed
SEC v. Charles Parrino (false rumors, 2022) SEC 2022-09-28 — settled
SEBI v. Bhavin Pradyumna Pandya and Rakesh Natavarlal Bhatt (bulk SMS and website tips, Global Infratech and Finance, 2022) SEBI (India) 2022-09-23 — judgment
SEBI v. Roshan Kumar Arun Mandal and Ajay Dhirajlal Nathwani (bulk SMS tips and circular trades, Mohit Industries, 2022) SEBI (India) 2022-08-25 — judgment
SEBI v. Malay Bhow and others (bulk SMS tips, South Indian Bank options, 2022) SEBI (India) 2022-06-03 — judgment
SEC v. Anthony Salandra (false rumors, 2022) SEC 2022-04-11 — settled
SEC v. Barton S. Ross (false rumors, 2020) SEC 2020-12-18 — settled
AMF France v. Electricité de France S.A., B and A (false or misleading information, 2020) AMF (France) 2020-07-28 — judgment
AMF France v. Montaigne Fashion Group, Jekiti Mar Capital, A, Financière du Phoenix, SCI Plainville and B (insider trading, 2019) AMF (France) 2019-04-17 — judgment
AMF France v. X and D (false or misleading information, 2018) AMF (France) 2018-05-07 — judgment
AMF France v. A and B (false information about a bank's capital, 2013) AMF (France) 2013-11-07 — judgment
AMF France v. A (false rumours, 2009) AMF (France) 2009-10-01 — judgment
AMF France v. A (false information, 2006) AMF (France) 2006-12-19 — judgment