‘Sham’ Getty Takeover Was Actually Pump-and-Dump Scheme, US Says
- SEC alleged Robert Scott Murray committed securities fraud
- Massachusetts man made $4 billion offer for photo firm in 2023
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A $4 billion takeover bid for Getty Images Holdings Inc. was actually a pump-and-dump scheme, according to US authorities.
The Justice Department and Securities and Exchange Commission said Friday that Robert Scott Murray had no real intention to buy Getty Images when he announced in April 2023 a plan to take over the Seattle-based stock photo giant at $10 a share.