• Millennium Management LLC agreed to pay over $630,000 to settle SEC charges.

Alleged Violations

• Company violated the anti-manipulation provisions of the federal securities laws.
• Firm shorted US stocks in companies which were planning for follow-on offerings.
• After shorting, the firm then illegally bought the shares in the follow-on offering.
• By illegally purchasing shares in follow-on offerings, company made $286k profit.
• Accounts participated in public offerings despite other firm accounts being short.

Rule 105 Violations

• SEC Rule 105 prohibits short selling an equity security during a restricted period.
• Restricted period generally for five business days before covered public offerings.
• Rule bans subsequent purchase of same security as shorted, through an offering.

Sanctions

• Pay disgorgement $286k, interest of $51k and penalty of $300k for total of $637k.