2021-08-17 sec-litreleases litigation_release 66 KB 2,509 chars

SEC v. Arthur Hall; and Rising Biosciences, Inc., No. LR-25172, Northern District of Ohio (Aug. 17, 2021) — Press Release

raw: Arthur Hall and Rising Biosciences, Inc.

Arthur Hall and Rising Biosciences, Inc., No. LR-25172 (Aug. 17, 2021)

Caption
SEC v. Arthur Hall, et al.
Source PDF JSON
summary

Rising Biosciences, Inc. and its CEO, Arthur Hall, were charged by the SEC with making false and misleading statements about their COVID-19 disinfectant products, resulting in a lawsuit seeking permanent injunctions, disgorgement, and civil penalties.

paragraph

The SEC alleged that Rising Biosciences and Hall falsely claimed their products, including Oxithymol and Oxi Thyme, were CDC-approved or EPA-registered, when in reality they were not. The company was found to have rebottled a third-party pesticide not approved for killing the COVID-19 virus. The SEC is seeking permanent injunctions, disgorgement, prejudgment interest, and civil penalties, as well as bars against Hall from serving as an officer or director of a public company.

narrative

The Securities and Exchange Commission (SEC) charged Rising Biosciences, Inc. and its CEO, Arthur Hall, with making false and misleading statements about their disinfectant products related to COVID-19. The complaint alleges that the company falsely claimed its products, including Oxithymol and Oxi Thyme, were CDC approved or EPA registered, when in fact they were not. The SEC alleges violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The company was found to have rebottled a third-party pesticide not approved for killing the COVID-19 virus, which was promoted through press releases, the company's website, and social-media videos. The SEC is seeking permanent injunctions, disgorgement, prejudgment interest, and civil penalties, as well as bars against Hall from serving as an officer or director of a public company. The case was filed in the U.S. District Court for the Northern District of Ohio, and the SEC's investigation was conducted by the Chicago Regional Office with assistance from FINRA and the EPA.

Enriched metadata

Scheme
health-care-fraud (95%)
Court
Northern District of Ohio
Entity
Rising Biosciences, Inc.
Classified health-care-fraud(confidence 95%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Statutes
Section 10(b) of the Securities Exchange ActRule 10b-5
Parties
Securities and Exchange CommissionArthur HallRising Biosciences, Inc.
Keywords
rising biosciencesrisingbioscienceshallarthur hallhall risingsecurities exchangearthurincusesecproductssecuritiesagainstaugust securities

Exhibits & Attached Documents (1)

Extracted insights

Entities 10
  • company a company
  • person arthur hall
  • company arthur hall and rising biosciences, inc.
  • person chief executive officer
  • company company
  • person disinfectant products
  • person fraudulent statements
  • person rising biosciences
  • company rising biosciences, inc.
  • agency Securities and Exchange Commission
Triples 77
  • SEC announced charges Rising Biosciences, Inc. and its Chief Executive Officer, Arthur Hall
  • Rising Biosciences, Inc. launched disinfectant products
  • Arthur Hall made false and misleading statements regarding disinfectant products
  • SEC charged Rising Biosciences, Inc. and its CEO Arthur Hall
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products
  • Rising Biosciences, Inc. purportedly launched disinfectant products in response to COVID-19
  • Securities and Exchange Commission v. Arthur Hall and Rising Biosciences, Inc. filed 3:21-civ-01597 (N.D. Ohio) on August 17, 2021
  • Arthur Hall founded Rising Biosciences, Inc.
  • Rising Biosciences, Inc. made false and misleading statements
  • Arthur Hall made false and misleading statements
  • Rising Biosciences, Inc. launched disinfectant products
  • Arthur Hall charged with fraudulent statements
  • SEC charged Arthur Hall and Rising Biosciences, Inc.
  • SEC announced charges
  • Rising Biosciences, Inc. responded to COVID-19
  • Arthur Hall led Rising Biosciences, Inc.
  • SEC charged Rising Biosciences, Inc. and Arthur Hall
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products
  • Arthur Hall made false and misleading statements regarding disinfectant products
  • Rising Biosciences purportedly launched disinfectant products in response to COVID-19
  • Securities and Exchange Commission v. Arthur Hall and Rising Biosciences, Inc. filed 3:21-civ-01597 (N.D. Ohio) on August 17, 2021
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Securities and Exchange Commission announced charges against Rising Biosciences, Inc.
  • Securities and Exchange Commission announced charges against Arthur Hall
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall
  • Rising Biosciences, Inc. is Company
  • Arthur Hall is Chief Executive Officer
  • Arthur Hall is CEO
  • Rising Biosciences, Inc. launched disinfectant products
  • Securities and Exchange Commission filed Securities and Exchange Commission v. Arthur Hall and Rising Biosciences, Inc.
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • Securities and Exchange Commission announced charges against Rising Biosciences, Inc.
  • Securities and Exchange Commission announced charges against Arthur Hall
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with Fraudulent Statements
  • Rising Biosciences, Inc. is a company
  • Arthur Hall is Chief Executive Officer
  • Rising Biosciences, Inc. purportedly launched disinfectant products
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
  • The Securities and Exchange Commission announced charges against Rising Biosciences, Inc. and its Chief Executive Officer, Arthur Hall
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products
  • Rising Biosciences launched disinfectant products in response to COVID-19
  • Rising Biosciences, Inc. made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Arthur Hall made false and misleading statements regarding disinfectant products purportedly launched in response to COVID-19
  • Securities and Exchange Commission charged Rising Biosciences, Inc. and Arthur Hall with fraud
PDF (from attached: complaint)
Securities and Exchange Commission v Arthur Hall and Rising Biosciences Inc · Source
Text layers
Extracted body text (2,509c) 
SEC Charges Company and Its CEO with Fraudulent Statements Concerning Covid-19 Products Litigation Release No. 25172 / August 17, 2021 Securities and Exchange Commission v. Arthur Hall and Rising Biosciences, Inc., 3:21-civ-01597 (N.D. Ohio filed August 17, 2021) The Securities and Exchange Commission today announced charges against Rising Biosciences, Inc. and its Chief Executive Officer, Arthur Hall, for making false and misleading statements regarding disinfectant products Rising Biosciences purportedly launched in response to COVID-19. The SEC previously issued an order [https://www.sec.gov/litigation/suspensions/2020/34-89646-o.pdf] on August 25, 2020, temporarily suspending trading in the securities of Rising Biosciences. According to the SEC's complaint, filed in the U.S. District Court for the Northern District of Ohio, Rising Biosciences and Hall made false and misleading statements in press releases, on websites, and in social media videos that Rising Biosciences' disinfectant products, including Oxithymol, Oxi Thyme, and/or their ingredients, were CDC approved or EPA registered. The complaint alleges that neither Oxithymol nor its purported ingredients were CDC approved, and the EPA has not registered Oxithymol or Oxi Thyme for any use. The complaint also alleges that Rising Biosciences did not use Oxithymol in its Oxi Thyme system, but instead purchased, rebottled, and sold a product produced by another company for use in the Oxi Thyme system. The other company's product is EPA registered as a pesticide. It is not registered for use in killing viruses and does not appear on the EPA's "List N" of products that meet EPA criteria for use against the virus that causes COVID-19, according to the complaint. The SEC's complaint alleges that Rising Biosciences and Hall violated the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and seeks permanent injunctions, disgorgement, prejudgment interest, and civil penalties against them. The complaint also seeks director and officer and penny stock bars against Hall. The SEC's investigation was conducted by Stephanie Reinhart and Rebecca Hollenbeck and supervised by Amy Flaherty Hartman of the Chicago Regional Office. The litigation will be led by Jonathan Polish and Ms. Reinhart and supervised by John Birkenheier. The Commission appreciates the assistance provided by the Financial Industry Regulatory Authority and the Environmental Protection Agency. SEC Complaint
OCR text (2,509c · html-text · 99% conf) 
SEC Charges Company and Its CEO with Fraudulent Statements Concerning Covid-19 Products Litigation Release No. 25172 / August 17, 2021 Securities and Exchange Commission v. Arthur Hall and Rising Biosciences, Inc., 3:21-civ-01597 (N.D. Ohio filed August 17, 2021) The Securities and Exchange Commission today announced charges against Rising Biosciences, Inc. and its Chief Executive Officer, Arthur Hall, for making false and misleading statements regarding disinfectant products Rising Biosciences purportedly launched in response to COVID-19. The SEC previously issued an order [https://www.sec.gov/litigation/suspensions/2020/34-89646-o.pdf] on August 25, 2020, temporarily suspending trading in the securities of Rising Biosciences. According to the SEC's complaint, filed in the U.S. District Court for the Northern District of Ohio, Rising Biosciences and Hall made false and misleading statements in press releases, on websites, and in social media videos that Rising Biosciences' disinfectant products, including Oxithymol, Oxi Thyme, and/or their ingredients, were CDC approved or EPA registered. The complaint alleges that neither Oxithymol nor its purported ingredients were CDC approved, and the EPA has not registered Oxithymol or Oxi Thyme for any use. The complaint also alleges that Rising Biosciences did not use Oxithymol in its Oxi Thyme system, but instead purchased, rebottled, and sold a product produced by another company for use in the Oxi Thyme system. The other company's product is EPA registered as a pesticide. It is not registered for use in killing viruses and does not appear on the EPA's "List N" of products that meet EPA criteria for use against the virus that causes COVID-19, according to the complaint. The SEC's complaint alleges that Rising Biosciences and Hall violated the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and seeks permanent injunctions, disgorgement, prejudgment interest, and civil penalties against them. The complaint also seeks director and officer and penny stock bars against Hall. The SEC's investigation was conducted by Stephanie Reinhart and Rebecca Hollenbeck and supervised by Amy Flaherty Hartman of the Chicago Regional Office. The litigation will be led by Jonathan Polish and Ms. Reinhart and supervised by John Birkenheier. The Commission appreciates the assistance provided by the Financial Industry Regulatory Authority and the Environmental Protection Agency. SEC Complaint

Related documents (1)