A Nevada energy and manufacturing company headquartered in Nova Scotia agreed to pay $1 million to settle charges levied by the Securities and Exchange Commission (SEC) for alleged market manipulation and fraud, while the agency further investigates its former chief executives.
Meta Materials violated the antifraud, reporting, internal accounting controls, and books and records provisions of federal securities laws, the SEC announced in a press release Tuesday. The company’s former CEOs John Brda and George Palikaras violated antifraud and proxy disclosure provisions, the agency added, with Brda allegedly aiding and abetting the company’s aforementioned violations.
