FONU2 CEO Jake Shapiro Failed to Disclose Bankruptcy to Investors
Friday, September 18th, 2015
The tiny outfit that has sold stock based on the promise that it will build the nation’s biggest movie-making compound near Savannah failed to previously disclose as required that its chairman had sought bankruptcy protection for another business he led.
FONU2, which also goes by the name Moon River Studios, reported in a regulatory filing in January that none of its top leaders had led companies that filed for bankruptcy protection in the last decade. The filings are supposed to give investors a true picture of the financial standing and risks associated with publicly traded companies.
