Man arrested on charges of false Fitbit tender offer

Posted May 19, 2017 1:14 pm by Comments

A man was arrested Friday for manipulating Fitbit stock with a fake tender offer, the U.S. Attorney for the Southern District of New York announced. Civil charges also were filed by the Securities and Exchange Commission against Robert Murray, a Virginia man who used the SEC’s Edgar system to lodge a fictitious tender offer for the watchmaker. The U.S. Attorney said the fake tender manipulated the market by $100 million, and Murray had used call options to profit.

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