March 27, 2015
Macquarie Capital (USA) Inc., Aaron Black, William Fang
SANCTION AMOUNT: $15,247,711
Defendants: Macquarie Capital (USA) Inc.
Aaron Black, William Fang
Due diligence failure in underwriting public offering of Puda Coal, contributing to losses of hundreds of millions of shareholder value. Defendant company made $4.17 million profit as lead underwriter, despite having previously received information from Kroll Associates indicating that Puda Coal's claim of ownership of its principal/sole asset was false.
- Key Docs
- Official SEC press release