SEC v. Shuang Chen

Xiaosong Wang allegedly played a role in a stock manipulation scheme that generated profits on the trading of stock in more than 3,900 publicly traded securities. The amended complaint alleged that the traders manipulated the prices of thousands of thinly traded securities by creating the false appearance of trading interest and activity in those stocks, enabling them to reap illicit profits by artificially boosting or depressing stock prices.

Summary generated from official Securities and Exchange Commission press release