Are Facebook followers not a "specific group?" I think that's a bigger question than you're giving credit to.
One of the refrains of securities lawyers is: "make your disclosure simple enough for grandma to understand." Because at the end of the day, grandma does have her money in the public markets and the law seeks to protect grandma and not just sophisticated investors.
Also, "filing charges" refers to a criminal action. The article says the SEC is considering bringing a civil action. The difference between the two is like the difference between being charged with vehicular manslaughter for driving drunk and getting a citation for parking in a no parking zone.
One of the refrains of securities lawyers is: "make your disclosure simple enough for grandma to understand." Because at the end of the day, grandma does have her money in the public markets and the law seeks to protect grandma and not just sophisticated investors.
Also, "filing charges" refers to a criminal action. The article says the SEC is considering bringing a civil action. The difference between the two is like the difference between being charged with vehicular manslaughter for driving drunk and getting a citation for parking in a no parking zone.