The Securities and Exchange Commission filed an enforcement action in a federal court in California against James Craig, a Scottish national, for using tweets to manipulate the price of two stocks. According to the SEC, on two consecutive days in January 2013, Mr. Craig disseminated “phony tweets” regarding two publicly traded companies—Audience, Inc., a technology company, and Sarepta Therapeutics, Inc., a biopharmaceutical company—from accounts designed to appear like bona fide securities research firms. Both tweets falsely publicized detrimental news about pending regulatory issues involving the companies. In both cases, the volume of the stock increased and the price fell, and Mr. Craig tried to profit from the price decline, claimed the SEC. However, said the SEC, “[h]e waited too long each time to trade the stock” and only profited US $100 from his activity. However, “Craig’s conduct … caused harm to U.S. markets and investors by triggering significant stock price drops which undermine investor confidence,” claimed the SEC. The SEC seeks to bar Mr. Craig from future violations, and to assess a penalty and disgorgement.