The U.S. Securities and Exchange Commission sued the former CEO of Silicon Valley startup HeadSpin Inc. Wednesday in California Northern District Court for alleged violations of federal securities laws. The case accuses Manish Lachwani of defrauding investors by inflating the company’s key financial metrics and falsifying internal sales records. Counsel have not yet appeared for the defendants. The case is 5:21-cv-06554, Securities and Exchange Commission v. Lachwani.

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