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Gladius Files For Dissolution Without Meeting SEC’s Order To Payback Investors
Summary: Gladius, the cybersecurity startup charged with selling unregistered securities, has dissolved without complying with the United States Securities and Exchange Commission’s (SEC) order to pay back investors. Instead the company has decided to ignore their responsibilities as co-founder and chief technology officer Alex Godwin announced the dissolution of the company in a message sent to ...
Gladius, the cybersecurity startup charged with selling unregistered securities, has dissolved without complying with the United States Securities and Exchange Commission’s (SEC) order to pay back investors.
Instead the company has decided to ignore their responsibilities as co-founder and chief technology officer Alex Godwin announced the dissolution of the company in a message sent to the project’s official Telegram group. The message states that the company no longer has the funds to continue operations.
Gladius raised around $12.7 million in cryptocurrency during their initial coin offering (ICO) in late 2017. Gladius self-reported to the SEC the summer of last year. Because they self reported the SEC decided to not impose a penalty, instead Gladius had to compensate investors and register their tokens as a class of securities.
By Ramsey Baker
Tags: dissolution,dissolving,Gladius,ICO,SEC
Link: Gladius Files For Dissolution Without Meeting SEC’s Order To Payback Investors [Copy]
