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The Securities and Exchange Commission today announced charges against six individuals and two companies for their involvement in a fraudulent scheme to promote the securities of issuers that were conducting (or purporting to conduct) offerings pursuant to Regulation A, which, if certain conditions are met, provides an exemption to the Securities Act’s registration provisions. All but two of the parties have agreed to settle the SEC charges.  The SEC’s complaint alleges that Jonathan William Mikula, a recidivist securities law violator who resides in Georgia, promoted the securities of four issuers—Elegance Brands Inc. (now Sway Energy Corp.), Emerald Health Pharmaceuticals Inc., Hightimes Holding Corp., and Cloudastructure Inc.—without disclosing his receipt of compensation for the promotions. As alleged, Mikula promoted the securities through Palm Beach Venture, a newsletter for which he served as an author and chief analyst, and presented the recommendations as unbiased and no...

Gas prices have now declined for 79 consecutive days amid falling global oil prices, sending the national average price per gallon to its lowest level since March. However, some cities and states continue to see prices above $4 per gallon, creating an uneven landscape for U.S. drivers heading into the busy Labor Day weekend. Data from AAA show the national average gas price now sits at $3.81 per gallon. That compares with $4.20 one month ago, though remains well above the year-ago price of $3.18. Prices across the West Coast sit substantially higher than the national average , with drivers in Los Angeles seeing the highest-recorded Labor Day gas prices ever, the Los Angeles Times reported, at $5.25 a gallon. Western states tend to have higher gas taxes, and are located further away from the fuel processing hubs in Oklahoma, Texas and Louisiana. Illinois, too, which has some of the highest gas taxes in the nation, is seeing prices nearly a dollar higher than last year's Labor Day...

Gas prices have now declined for 79 consecutive days amid falling global oil prices, sending the national average price per gallon to its lowest level since March. However, some cities and states continue to see prices above $4 per gallon, creating an uneven landscape for U.S. drivers heading into the busy Labor Day weekend. Data from AAA show the national average gas price now sits at $3.81 per gallon. That compares with $4.20 one month ago, though remains well above the year-ago price of $3.18. Prices across the West Coast sit substantially higher than the national average , with drivers in Los Angeles seeing the highest-recorded Labor Day gas prices ever, the Los Angeles Times reported, at $5.25 a gallon. Western states tend to have higher gas taxes, and are located further away from the fuel processing hubs in Oklahoma, Texas and Louisiana. Illinois, too, which has some of the highest gas taxes in the nation, is seeing prices nearly a dollar higher than last year's Labor Day...

R.J. Scaringe, Rivian's CEO, introduces the world to his company's R1T all-electric pickup and all-electric R1S SUV at the Los Angeles Auto Show in Los Angeles, California, November 27, 2018. Mike Blake | Reuters Check out the companies making headlines after the bell :  Rivian Automotive — The electric vehicle maker rose 3.1% in after-hours trading after beating revenue estimates and posting a smaller-than-expected loss in the latest quarter. Rivian reaffirmed its delivery estimates for the year but said it expects a larger loss than anticipated as it grapples with supply chain constraints. Toast — Toast soared more than 10% in extended trading after sharing positive guidance for the current quarter and full year. Revenue for the latest quarter came in at $675 million, topping the $651 million expected by analysts surveyed by Refinitiv. Poshmark — Poshmark slid 5.7% post-market after reporting a wider-than-expected loss in its most recent quarter. Poshmark topped revenue es...