OWC Pharmaceutical Research Corp (OWCP)

[MRCOVENANT]

BAD NEWS:

Friedland has agreed to hand over $4.1 million to settle charges that he allegedly misled outside investors when he promoted the stock in 2016 and early 2017, as it was on a giddy run from a penny up to a brief peak of $2.20 a share. (Today it’s back to a penny).

“Retail investors are entitled to the facts about promoters’ relationships with the companies they tout under our securities laws,” said Melissa Hodgman, associate director of the SEC’s enforcement division. “The $2 million penalty assessed against Friedland reflects the SEC’s strong commitment to protecting investors’ right to fair and accurate disclosure.”

The SEC and Friedland’s attorneys declined to comment. OWC Pharmaceutical Research did not respond to request for comment.