Nutra Pharma Corp (NPHC)

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"SEC Obtains Partial Summary Judgment Against Microcap Issuer and CEO"

"According to the SEC's complaint, Nutra Pharma Corporation, a microcap issuer that purports to make pain relief drugs with cobra venom, and its CEO, Rik Deitsch, issued or posted a series of press releases that materially misled investors.

The releases allegedly implied, among other things, that Nutra Pharma had taken purported steps to distribute Nyloxin internationally, when it had not, and that Nutra Pharma had expanded and upgraded its cobra farm facilities, when it did not own those facilities or its cobras and there were no expansions or upgrades. Nutra Pharma publicized many of these press releases while Nutra Pharma and Deitsch allegedly engaged in an unregistered distribution of its securities to retail investors. In addition, on multiple occasions,

Deitsch allegedly engaged in manipulative trading to try to stabilize or raise Nutra Pharma's stock price and to create the appearance of active trading. Further, Nutra Pharma and Deitsch allegedly failed to make numerous required filings, including ones about the company's sales of unregistered securities and ones about Deitsch's beneficial ownership of the company's securities."

https://www.sec.gov/litigation/litreleases/2022/lr25510.htm