Litigation Releases (Fruit Street Health, P.B.C.)

Fruit Street Health, P.B.C.

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26165 / October 28, 2024

Securities and Exchange Commission v. Fruit Street Health, P.B.C.

, No. 1:24-mc-00494 (S.D.N.Y. filed Oct. 25, 2024)

SEC Seeks Court Order Requiring New-York-Based Company to Comply with Subpoena

The Securities and Exchange Commission announced that it filed a subpoena enforcement action against Fruit Street Health, P.B.C., a company conducting business from New York, New York, for failing to produce documents pursuant to an SEC investigative subpoena. The filed action seeks an order directing Fruit Street to comply with the subpoena.

According to the SEC's application and supporting papers filed in the U.S. District Court for the Southern District of New York, the SEC is investigating whether Fruit Street and others affiliated with it violated the federal securities laws by making false and misleading statements to investors and conducting an unregistered offering of securities. The SEC's application states that it is seeking documents from Fruit Street related to its securities offerings.

On October 27, 2023, the SEC issued a subpoena for documents to Fruit Street. According to the SEC's filings, despite repeated attempts to secure compliance with the subpoena, Fruit Street has not produced all responsive documents.

The SEC's application seeks an order from the court directing Fruit Street to comply with the subpoena.

The SEC is continuing its fact-finding investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws.