Warrior Girl Corp. (WRGL)

[scion]

SEC Charges Former Chief Executive Officer of Microcap Issuer with Fraud

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23693 / November 23, 2016

Securities and Exchange Commission v. Jason Kumpf, Civil Action No. 16-cv-9033 (S.D.N.Y. filed Nov. 21, 2016)

SEC Charges Former Chief Executive Officer of Microcap Issuer with Fraud

On November 21, 2016, the Securities and Exchange Commission charged Jason William Kumpf, the former CEO and president of microcap issuer Warrior Girl Corp. and a resident of San Francisco, California, with fraud based on his involvement in the issuance of false and misleading public statements concerning Warrior Girl.

According to the SEC's complaint, filed on November 21, 2016 in the U.S. District Court for the Southern District of New York, Kumpf, along with two individuals previously charged by the SEC, drafted a press release that Warrior Girl issued on or about July 1, 2010. The complaint alleges that the press release falsely stated that Warrior Girl's online school was "fully licensed" and forecasted that the school would generate over $2 million the first year, over $8 million the second year, over $27 million the third year, and over $245 million the fifth year. These allegedly false and misleading claims were repeated on multiple promotional internet sites on or about July 1, 2, and 6, 2010.

The SEC's complaint charges Kumpf with violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Without admitting or denying the SEC's allegations, Kumpf consented to the entry of a final judgment imposing permanent injunctions, requiring him to pay a civil penalty of $10,000, ordering a penny stock bar, and prohibiting him from serving as an officer and director of a public company for a period of five years. The settlement is pending final approval by the court.

The SEC's investigation was conducted by Michael Paley, Laura Yeu, Christopher Ferrante and Eric Schmidt of the Microcap Fraud Task Force along with Richard Hong in the New York Regional Office, and the case was supervised by Lara Shalov Mehraban. The SEC's litigation in the related action is led by Mr. Hong. The SEC acknowledges the assistance of the U.S. Department of Justice, the U.S. Attorney's Office for the Eastern District of Virginia, and the Federal Bureau of Investigation.

This action is related to an action filed by the SEC on July 14, 2015, SEC v. Harold Bailey "B.J." Gallison, II (a.k.a. Bart Williams), et al., No. 15-cv-05456-GBD (S.D.N.Y.), pending before Honorable George B. Daniels. For further information, please see Press Release Number 2015-146 (July 14, 2015).



http://www.sec.gov/litigation/litreleases/2016/lr23693.htm