Microcap Investor, Hemp Co. Blast SEC’s Scalping Case

By Sarah Jarvis (Nov. 8, 2021, 7:49 p.m. EST) – A hemp products company and company that buys and sells microcap securities have filed a New York federal court with the Securities and Exchange Commission with allegations that they were involved in a “scalping” program worth $ 11 million.

GPL Ventures LLC and HempAmericana Inc. filed separate filings Friday to dismiss the SEC’s proceedings against them. GPL, an affiliate, and two co-owners in a memo in support of their filing argued that the SEC’s lawsuit reflected an effort to widen the scope of Section 15 (a) of the Securities Exchange Act.

“By trying to broaden the definition of ‘dealer’ to …

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