Action against Defendants, a Hong Kong brokerage company and 18 traders, for alleged market manipulation. According to the SEC, Defendants manipulated prices by placing small sell orders to drive down a stock’s price and then used another account to buy large amounts of the stock at a deflated price. The SEC further alleges Defendants subsequently placed small orders to buy the stock at a higher price in a small quantity, then sold off the rest of their previously acquired stock at high prices.
