Consumers Affected
15
The New Jersey Bureau of Securities filed a lawsuit against Xiao Hu (aka Mark Hu) and his companies Skyline Technology USA LLC and Thunderbirds.ME, Inc. for allegedly defrauding at least 15 investors out of $2.5 million through unregistered securities offerings. Hu allegedly misappropriated at least $280,000 for personal expenses including a home purchase and vacation, and falsely claimed to have a Ph.D. from Columbia University.
The lawsuit seeks a permanent injunction against offering securities in New Jersey, civil monetary penalties, restitution for victims, and disgorgement of profits from Hu and his wife.
In-house legal teams should review any vendor or investment agreements involving securities offerings, particularly those promising fixed returns. Key clauses to examine include representations and warranties regarding securities registration, anti-fraud provisions, and indemnification for misrepresentation. Also review any agreements with investment advisors or brokers for compliance with state securities laws and ensure proper registration of securities and sellers.
Entity
Xiao Hu
Industry
TechnologyOfficial Press Release
https://www.njoag.gov/nj-bureau-of-securities-sues-former-princeton-resident-who-allegedly-defrauded-investors-out-of-2-5-million-and-misused-investor-funds/
2026 0604 Skyline Complaint Filed Copy
http://www.njoag.gov/wp-content/uploads/2026/06/2026-0604_Skyline-Complaint-Filed-Copy.pdf
New Jersey Attorney General Enforcement Page
https://www.njoag.gov/about/divisions-and-offices/division-of-consumer-affairs/
"Xiao Hu, aka Mark Hu"
"defrauded investors out of at least $2.5 million"
"New Jersey Uniform Securities Law"
"offered and sold unregistered, fraudulent securities"
"permanently enjoining the Defendants from offering, selling, issuing, or promoting securities"
$650K
The New Jersey Attorney General and Division of Consumer Affairs announced that Match Group, Inc. will pay $650,000 and change its business practices to settle allegations that it misrepresented or failed to disclose its criminal background screening policies and practices to New Jersey users, violating the New Jersey Consumer Fraud Act and the Internet Dating Safety Act. Under a Consent Order, Match must accurately represent its screening policies, notify existing New Jersey members of updated disclosures within 150 days, and post clear and conspicuous disclosures and safety notifications about the limitations of criminal background screenings.
On August 31, 2026, New Jersey Attorney General Jennifer Davenport and the Division of Consumer Affairs joined the FTC and a bipartisan coalition of 21 other states in suing Amazon, alleging that for over seven years the company secretly rigged its advertising auctions—converting advertised 'second price' auctions into first-price auctions with hidden 'soft reserve price' surcharges—overcharging more than 500,000 small- and medium-sized businesses and extracting tens of billions of dollars. The complaint alleges Amazon actively concealed the surcharges, gave false and misleading answers to advertisers who asked directly about the auction format, and applied inflated upcharges on high-volume shopping days like Prime Day and Black Friday. The lawsuit was just filed; no penalties or remedies have been imposed yet.
A bipartisan coalition of state attorneys general led by New Jersey, California, Colorado, and Kentucky is taking Meta Platforms, Inc. to trial, alleging that Meta designed addictive features on Instagram and Facebook that harm minors' mental health, illegally collected data from children under 13 without the required protections under COPPA, and misled users about platform safety. Opening arguments begin August 18, 2026, in the U.S. District Court for the Northern District of California. No monetary penalty or final remedy has yet been imposed.
A coalition of 21 state attorneys general and Pennsylvania filed lawsuits against the Trump Administration, DOT, FMCSA, DHS, and AAMVA to prevent the unlawful demand for a database containing personal information of 17 million commercial driver's license holders. The lawsuits allege violations of federal privacy laws and the Administrative Procedure Act, and seek an emergency order to block the data transfer.
Attorney General Jennifer Davenport joined a coalition of 17 attorneys general in sending comment letters to the Office of the Comptroller of the Currency and the Federal Reserve Board, urging them to deny OppFi's application to acquire BNC National Bank and obtain a national bank charter. The coalition argues that the charter would allow OppFi to circumvent state usury laws and offer high-cost loans with APRs up to 200%, harming consumers.
$400.0M
Attorney General Jennifer Davenport joined a coalition of 43 states and territories in announcing a $400 million settlement in principle with Sandoz Inc. to resolve allegations of widespread price-fixing and anticompetitive conduct in the generic drug market. Sandoz will pay approximately $469 million total including prior settlements, and has agreed to internal reforms to ensure fair competition.