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- A Massachusetts man agreed to plead guilty to securities fraud for artificially inflating the stock price of Getty Images Holdings, including through a bogus $4 billion takeover bid for the visual media company, authorities said on Friday.
Prosecutors called the release"materially false and misleading in that Murray had no intention of acquiring Getty and no ability to do so," and said Murray issued it so he and a friend could sell their shares at higher prices. In an interview with Reuters at the time, Murray declined to say how he would fund a takeover, but said his"deep relationships" in the private equity industry made it possible.
He also settled related U.S. Securities and Exchange Commission civil charges on Friday, accepting a ban on serving as an officer or director of public companies.
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