Tag: SEC

YARMOUTH, Maine – Multinational American technology company NVIDIA said in a Securities and Exchange Commission filing August 26 that U.S. Government officials are enforcing the restriction of sales for its top AI chips with China. The move comes as tension continues to grow between the two countries and rising fears of China using the technology for military applications and surveillance applications domestic and abroad. On the chopping block of note are the company’s A100, H100,...

CORK, Ireland – Fire, HVAC, and building security equipment provider Johnson Controls has announced the pricing on its senior notes offering. According to the company’s official release, the pricing of its offering is at €600 million senior notes due 2028. The company said that net proceeds will be used for general purposes, including debt repayment, but could include acquisitions, repurchase of ordinary shares, additions to working capital and other corporate purposes. “Tyco...

DALLAS—Brinks Home Security, a home security and alarm monitoring company, announced that it intends to voluntarily deregister its common stock under the Securities Exchange Act of 1934, ending the public trading of its common stock. In the announcement Brinks said it intends to file “post-effective amendments to its outstanding registration statements on Form S-3 and S-8 to deregister unsold securities thereunder, with the U.S. Securities and Exchange Commission (SEC) no earlier than...

ALBANY, N.Y.—A federal jury on Feb. 6 convicted security industry investors Timothy McGinn and David L. Smith of conspiracy to commit mail and wire fraud, mail fraud, wire fraud, securities fraud, and filing false tax returns, according to Richard Hartunian, U.S. attorney for the Northern District of New York.The two—who also are facing a civil suit by the Securities and Exchange Commission claiming they bilked investors of at least $80 million in a Ponzi scheme—will be sentenced...

When the Securities and Exchange Commission charged alarm industry investors David L. Smith and Timothy McGinn in 2010 with running a Ponzi scheme that defrauded investors of at least $80 million, one of the SEC's contentions was that some of the money was diverted to pay for “strippers and go-go dancers” on McGinn's You Only Live Once cruise ship business. Now, a judge has ordered that another cruise business associated with the case—this one with the tonier name of White Glove...

AMERICAN FORK, Utah—CPI Security Systems, a Charlotte, N.C.-based monitoring company, is suing Platinum Protection, claiming Platinum has defaulted on a $700,000 loan CPI made to the company in January.CPI contends in a lawsuit, filed March 29 in federal court in Utah against Platinum and its CEO Jared Hallows, that Platinum has not repaid the money as required. Also, CPI claims that Platinum is not able to properly maintain the 350 customer accounts that are collateral for the loan because...

ALBANY, N.Y.—Security industry investors Timothy McGinn and David L. Smith—already being sued by the Securities and Exchange Commission on a claim they bilked investors of at least $80 million in a Ponzi scheme—now are facing criminal charges that could send them to prison for years, if convicted.A New York grand jury last week indicted McGinn, 63, and Smith, 66—the founders of an investment firm based here that conducted dealings in the alarm industry—on 30 counts that...

ALBANY, N.Y.—Security alarm investors Timothy McGinn and David Smith—whom the SEC charged earlier this year with bilking investors of at least $80 million in a Ponzi scheme—are reportedly involved in a new investment venture. Their new business, Security Alarm Credit, has come under the SEC's radar. “We are aware of it and have alerted the court to it,” Andrew Calamari, associate director of the SEC's New York Regional Office, said Oct. 27. “But at the moment,...