SEC Charges Meta Materials and Ex-CEOs with Fraud and Market Manipulation

The SEC has charged Meta Materials Inc. and its former CEOs, John Brda and George Palikaras, with market manipulation, raising $137.5 million by artificially inflating stock prices through a "short squeeze" scheme. Meta Materials settled with a $1 million penalty, while litigation against Brda and Palikaras continues, seeking permanent injunctions, penalties, and disgorgement.

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SEC Charges Meta Materials and Ex-CEOs with Fraud and Market Manipulation

The SEC has charged Meta Materials Inc. and its former CEOs, John Brda and George Palikaras, with market manipulation, raising $137.5 million by artificially inflating stock prices through a "short squeeze" scheme. Meta Materials settled with a $1 million penalty, while litigation against Brda and Palikaras continues, seeking permanent injunctions, penalties, and disgorgement.

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https://www.sec.gov/news/press-release/2024-77