Sham tender offers enforcement actions

This library records 15 enforcement actions tagged sham tender offers. A sham tender offer is a takeover bid announced or filed by someone with no intention or means of completing it, or by a bidder who does not exist, in order to move the target's share price and trade against the move.

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 sham tender offers technique page.

Actions

15

Total penalties

$9.1m

Median penalty

$600k

Largest

$2.9m

Criminal parallel

53%