The United States Securities and Exchange Commission filed charges of misfiling crucial loan documents against SouthPeak Interactive (Two Worlds II) back in November, or, more specifically, the publisher’s chairman Terry Phillips. No word had been given once charges were filed, but SouthPeak has ended the matter relatively quickly, settling out of court for an undisclosed […]
Southpeak Games has announced that it has taken steps to clear up some of its financial reporting in response to the suit brought against them by the US Securities and Exchange Commission. The initial investigation stemmed from Southpeak’s earlier failure to report a loan taken out by company chairman Terry Phillips in 2009.
Amidst the after-math of its own legal battles, Southpeak Games has become the target of the U.S. Securities and Exchange Commission. Specifically, the charges alleged against the Two Worlds developer’s chairman Terry Phillips and CEO Melanie Mroz include mis-reporting of company finances and failure to follow government regulations on internal accounting. The company received Wells […]