The U.S. Securities and Exchange Commission filed a motion in Illinois federal court on Tuesday seeking an order to compel a vertically integrated cannabis company to comply with an investigative subpoena.
The SEC is investigating allegations that Geoffrey Thompson, co-founder of Covalent Collective, referred to by its former name of Doyen International in the Northern District of Illinois court filings, “may have violated the registration provisions of the securities laws in an unregistered offering of securities, and may also have made misleading representations to investors and potential investors about the operations, acquisitions, and projected stock price of Doyen and related entities.”
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