The SEC brought a civil case against May, alleging violations of Section 10(b) of the Exchange Act and Rule 10b-5. May consented to settle the matter and was forced to pay a disgorgement of $437,050 and a civil penalty of $437,050. May also agreed to be permanently enjoined from future violations of the Exchange Act.

Why do believe this was a just resolution of the offense?

With references

Answer rating: 100% (QA)

The resolution of the civil case against May brought by the SEC alleging violations of Section 10b of the Exchange Act and Rule 10b5 appears to be jus... View the full answer