The seven are accused of pumping and dumping the shares of small cap companies, by issuing false press releases with the aim of selling the shares at exaggerated prices. Facing these criminal charges, the seven are also the subject of a civil lawsuit brought by the Securities and Exchange Commission (SEC). The SEC has increased its work on this kind of scheme this year, creating a unit to investigate potential cases. The allegations relate to several small cap companies including StarStream Entertainment and the Staffing Group. The allegations relate to actions taken between October 2012 and the start of July 2014. 

Background

Ms Cane’s experience is described on her website. The site says: ‘A resident of Las Vegas, Nevada, attorney Kyleen Cane serves as Managing Member of her law firm Cane Clark LLP, where she specializes in corporate and securities law. Kyleen Cane co-founded Cane Clark LLP in 1997 under the name Cane and Company in order to provide corporate and securities legal services to small cap public companies. A member of the Nevada, California, Washington, and Hawaii State Bars, Kyleen Cane has extensive experience with federal and state securities laws. In addition to her work with Cane Clark LLP, Kyleen Cane has also served as the Chairman of the State Bar of Nevada's Technology Section.’ Sources: Financial Times and Kyleen Cane site