In addition to financial penalties, the SEC is seeking to prevent both Farnsworth and Lowe from serving in director or officer positions in any company that’s required to register securities with the agency. The SEC’s lawsuit also names former MoviePass business development executive Khalid Itum as a defendant. Itum allegedly pocketed $310,000 by submitting false invoices to the company.
Last year, Helios and Matheson, Farnsworth and Lowe settled a lawsuit from the Federal Trade Commission related to allegations they mislead customers and failed to“The complaint concerns matters subject to an investigation that the company and other news outlets publicly disclosed nearly three years ago, and Mr. Farnsworth’s legal team will maintain the challenge to this complaint,” Chris Bond, a spokesperson for Ted Farnsworth told. “Mr.
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