Safe & Green files second SEC complaint on shareholder group

Safe & Green announced that it has filed a second complaint with the U.S. Securities and Exchange Commission’s Delinquent Filing Group within the Division of Enforcement against a group of affiliated beneficial shareholders believed to own a significant amount of the company’s common stock, who have failed to report their ownership as required under Section 13 of the Exchange Act. Safe & Green said, "The company has made multiple attempts since becoming aware of the issue to encourage the connected shareholders to come into compliance with Section 13 of the Exchange Act, yet no action has been taken by them. Given this group of shareholders is believed to control a significant amount of the Company’s float, yet not disclosing this publicly, the Company felt it had no choice but to file its second complaint with the SEC to ensure that all shareholders and potential investors have accurate information, as required by law, as to its top shareholders." "Today’s announcement reaffirms Safe & Green Holdings’ commitment to all shareholders to ensure fairness and transparency as to our shareholder base and operations," said CEO and chairman Paul Galvin. "Our recently announced proposed spin-off of Safe and Green Development Corporation, coupled with our consistent efforts of working to uncover trading irregularities and create ownership transparency, highlight our commitment to ensuring a maximization of value for all shareholders big and small."