DENVER — The U.S. Securities and Exchange Commission this week accused the former CEO of a one-time Denver-based CBD/healthy-beverages company of repeatedly issuing fraudulent statements about distribution deals and the development of products to artificially raise its share prices.
NewAge Inc. (OTCMarkets: NBEVQ), formerly known as New Age Beverages Corp., moved its headquarters earlier this year from Denver to the Salt Lake City area and filed on Aug. 30 for Chapter 11 bankruptcy protection.
The company traded on the Nasdaq Stock Market from February 2017 to September, when it was suspended due to its Chapter 11 filing, according to a company statement.
CEO Brent Willis and the company’s board of directors came to a resignation agreement on Jan. 10.
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