SEC v. Jerry D. Guess

Jerry D. Guess and Guess & Co. allegedly conducted a fraudulent offering of Guess & Co. stock. According to the SEC’s amended complaint, from at least June 2021 through April 2022, the Defendants made multiple false and misleading statements of material facts to at least 57 prospective investors in at least 12 states and one foreign country to solicit them to invest in Guess & Co. stock. The amended complaint alleges that the Defendants falsely represented to prospective investors that Guess & Co. was a diversified energy, health care, technology, and real estate company that had earned millions of dollars in revenue from its business operations in 2019 to 2021, and they misleadingly projected the company would earn billions in revenue in both 2021 and 2022.

Summary generated from official Securities and Exchange Commission press release