Schedule TO-C
Schedule TO-C is the SEC form on which a written communication about a tender offer is filed before the offer commences. Because holders read such a filing as a sign that a bid is coming, a false one can lift the target's share price.
Where does schedule to-c come up?
This term is used in the following manipulation techniques, each explained in full on its own page.
Enforcement actions involving these techniques
| Action | Agency | Filed | Technique | Penalty | Status |
|---|---|---|---|---|---|
| SEC v. Esmark Inc. and James P. Bouchard (sham tender offers, 2024) | SEC | 2024-09-06 | Sham Tender Offers | $600k | settled |
| SEC v. Melville Peter ten Cate (sham tender offers, 2023) | SEC | 2023-01-03 | Sham Tender Offers | $500k | judgment |
| SEC v. Lee Simmons (price manipulation, 2022) | SEC | 2022-08-19 | EDGAR Filing Fraud , Price Manipulation +1 | $223k | judgment |
| SEC v. Edgar M. Radjabli, Apis Capital Management LLC and My Loan Doctor LLC (sham tender offers, 2021) | SEC | 2021-06-11 | Sham Tender Offers | $419k | settled |
| SEC v. PTG Capital Partners, Ltd. (sham tender offers, 2020) | SEC | 2020-03-11 | EDGAR Filing Fraud , Sham Tender Offers | $1.5m | judgment |