Arsenal Capital Partners has announced it has acquired Innovative Products & Equipment.
Innovative, based in Hudson, N.H., provides automation and product and process development solutions to customers in specialized markets, with a focus on medical device and life sciences. Founded in 1980, the company’s technologies and solutions include automated assembly and test systems, machine…
Securities and Exchange Commission v. Okhotnikov was filed in the United States District Court for the Northern District of Illinois on August 1, 2022, claiming violations of several provisions of the Securities Act and Securities Exchange Act in connection with offering and selling unregistered smart contracts operated on the Ethereum, Tron, and Binance blockchains. Specifically, the SEC seeks permanent injunctive relief against all Defendants in order to prevent future violations of the federal securities laws, disgorgement of any ill-gotten gains, and civil damages.
The SEC brought the enforcement action against Defendants Vladimir Okhotnikov (“Okhotnikov”), Jane Doe a/k/a Lola Ferrari (“Ferrari”), Mikail Sergeev (“Sergeev”), and Sergey Maslakov (“Maslakov”)—a set of Russia-based individuals who are alleged to have created, operated, and maintained an online pyramid and Ponzi scheme through smart contracts on various blockchains (collectively, the “Founder Defendants”)—and Defendants Samuel D. Ellis (“Ellis”), Mark F. Hamlin (“Hamlin”), and Sarah L. Theissen (“Theissen”) who are individuals alleged to have engaged in the promotion or sale of the smart contracts to investors within the United States (collectively, the “Promoter Defendants”).
The complaint alleges that in the fall of 2019, the Founder Defendants formed Forsage.io (“Forsage”), an unincorporated entity, for the purpose of coding smart contracts on various blockchains and building a website that would serve as an interface for the promotion and sale of the smart contracts. However, the complaint alleges that from January 2020 until the present, Defendants operated, promoted, and maintained an online pyramid and Ponzi scheme through Forsage, allowing millions of retail investors to enter into transactions via the sale of unregistered smart contracts maintained on the Ethereum, Tron, and Binance blockchains. To date, the transactions have totaled over $300 million.
On August 18, 2022, the Department of Homeland Security (DHS) published a Proposed Rule titled Optional Alternatives to the Physical Document Examination Associated With Employment Eligibility Verification (Form I-9). The Proposed Rule would formalize the authority of the Secretary of Homeland Security to extend certain COVID-19 rules permitting remote inspection of employee documents presented for the Form I-9 and further explore alternative options to physical document examination procedures in the future. The Proposed Rule comes on the heels of the shift to remote working and hybrid schedules that have become increasingly common. DHS is accepting comments from the public on the Proposed Rule until October 17, 2022.
Avista Capital Partners has acquired WellSpring Consumer Healthcare from Audax Private Equity, according to a news release.
WellSpring, founded in 1999 and based in Sarasota, Fla., markets over-the-counter drug and personal care products to the U.S. and Canadian markets
Avista, based in New York, makes control buyout investments in middle market healthcare…
RiverGlade Capital has announced it closed its latest fund, RiverGlade Capital Fund II, with $453 million in capital commitments.
The fund was over-subscribed and exceeded its target size and initial cap.
RiverGlade Capital, based in Chicago, makes control and select minority equity investments in lower middle market healthcare companies. Founded in 2017, the firm…
Frontline Healthcare Partners has announced a recapitalization and growth investment in LivWell Infusions.
LivWell, based out of Scottsdale, Ariz., is a provider of outpatient infusion therapy, with services offered through ambulatory infusions centers and infusions practice management. Founded in 2020, the company currently provides infusion services to patients across allergy/immunology, cardiology, gastroenterology, oncology, ophthalmology, neurology…
On July 15, the U.S. Department of Labor proposed a new regulation that would require successor government contractors to offer employees of predecessor contractors the first right of refusal for employment on certain contracts.
Read on for more information about the proposed regulation.
Arsenal Capital Partners has announced that it has completed fundraising for two new funds, totaling $5.4 billion in capital commitments.
Arsenal Capital Partners VI (Fund VI) closed with $4.3 billion in capital commitments. This exceeded its $3.0 billion target. The firm said Fund VI will focus on investments in healthcare and industrials businesses with proven technologies and solutions.
Arsenal Capital Partners…
Securities and Exchange Commission v. Alexandra Robert et al. was filed in the United States District Court for the Southern District of Florida on July 26, 2022, claiming violations of several provisions of the Securities Act and Securities Exchange Act. Specifically, the SEC seeks permanent injunctive relief against all Defendants in order to prevent future violations of the federal securities laws, disgorgement of any ill-gotten gains, and civil damages.
The SEC brought this action against Defendants Alexandra Robert (“Robert”), the owner, founder, and CEO of Defendants Chalala Academy LLC (“Chalala”), a Florida limited liability company, and Lendvesting Academy Corp. (“Lendvesting”), a Florida-registered corporation formerly operating as a d/b/a of Chalala.
The complaint alleges from at least May 2020 through August 2021, Defendants fraudulently raised approximately $900,000 from roughly 80 investors, mostly Haitian and Haitian-Americans living in South Florida, by offering unregistered “investment programs” falsely promising guaranteed returns of up to 48%. Defendants falsely told investors that they would make interest generating loans to small businesses that would otherwise not qualify for traditional financing, thereby providing investors with high fixed returns.
SFW Capital Partners has announced it has completed a strategic investment in Sannova Analytical.
Sannova, founded in 2006 and based in Somerset, N.J., is a contract research organization providing bioanalytical and chemistry manufacturing and controls testing services to pharmaceutical and biotech companies.
SFW, based in Rye, N.Y., is a private equity firm focused…
