SEC halts trading in Etoiles Capital (EFTY) over manipulation concerns

Rhea-AI Filing Summary

Etoiles Capital Group Co., Ltd reports that the U.S. Securities and Exchange Commission ordered a suspension of trading in its securities from 4:00 a.m. ET on October 6, 2025 through 11:59 p.m. ET on October 17, 2025. The SEC action cites potential manipulation of the Company’s securities through social media recommendations by unknown persons that appeared designed to inflate trading price and volume. The Company states that it has not authorized or participated in any such promotions, and that its management and board are fully committed to cooperating with the SEC and other regulators during the suspension. It emphasizes that daily operations and business activities remain normal, and indicates it will pursue legal action if false or libelous information about the Company or its securities is identified.

Positive

• None.

Negative

• SEC trading suspension: The SEC ordered trading in Etoiles Capital Group securities halted from October 6–17, 2025 due to concerns about potential market manipulation via social media promotions.

Insights

Equity and Regulatory Risk Analyst

SEC trading suspension is a materially negative event despite normal operations.

The SEC has ordered a time-limited suspension of trading in Etoiles Capital Group securities from October 6–17, 2025 due to potential manipulation via social media promotions by unknown persons. A trading suspension is a serious regulatory action because it temporarily removes liquidity and price discovery in the market for the affected securities.

The Company explicitly states it did not authorize or participate in any promotions and commits to fully cooperate with the SEC and other authorities during the suspension period. It also emphasizes that its daily operations and business activities remain normal, indicating that the issue is framed as market-trading related rather than operational. The Company notes it will take legal action if it detects false or libelous information about the business or its securities.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2025

Commission File Number: 001-42793

Etoiles Capital Group Co., Ltd

(Registrant’s Name)

Unit 03-04, 25/F, Cosco Tower, 183 Queen’s Road Central,

Sheung Wang, Hong Kong

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒            Form 40-F ☐

Other Information

Suspension of Trading

On October 3, 2025, the U.S. Securities and Exchange Commission (the “SEC”) made an order suspending trading in the securities of Etoiles Capital Group Co., Ltd (the “Company”) for the period from 4:00 a.m. ET on October 6, 2025, through 11:59 p.m. p.m. ET on October 17, 2025 (the “Suspension Period”) because of potential manipulation in the securities of the Company effectuated through recommendations, made to investors by unknown persons via social media to purchase the securities of the Company, which appear to be designed to artificially inflate the price and volume of the securities of the Company. The order is available at https://www.sec.gov/files/litigation/suspensions/2025/34-104163.pdf.

The Company wishes to state clearly that it has not authorized, participated in, or been involved with any promotion or recommendation of its securities via social media or otherwise. The Company’s management and the board of directors take this matter very seriously. The Company is fully committed to cooperating with the SEC and all relevant regulatory authorities during the Suspension Period.

The Company further emphasizes that its daily operations and business activities remain normal and unaffected by the suspension of trading. The Company continues to carry out its business plans and serve its clients as usual.

If the Company becomes aware of any false, misleading, or libelous information being circulated concerning the Company, its management, or its securities, the Company will take all necessary and appropriate legal actions to safeguard its interests and to protect its shareholders.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Etoiles Capital Group Co., Ltd
	By:	/s/ Kit Shing, CHEUNG
	Name:	Kit Shing, CHEUNG
	Title:	Director and Chief Executive Officer

Date: October 6, 2025

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FAQ

Why did the SEC suspend trading in Etoiles Capital Group (EFTY) shares?

The SEC suspended trading in Etoiles Capital Group securities because of potential manipulation through social media recommendations by unknown persons that appeared designed to artificially inflate the price and volume of the Company’s securities.

How long will Etoiles Capital Group (EFTY) trading be suspended?

Trading in Etoiles Capital Group securities is suspended from 4:00 a.m. ET on October 6, 2025 through 11:59 p.m. ET on October 17, 2025.

Did Etoiles Capital Group authorize the social media promotions mentioned by the SEC?

No. Etoiles Capital Group states that it has not authorized, participated in, or been involved with any promotion or recommendation of its securities via social media or otherwise.

Are Etoiles Capital Group’s operations affected by the SEC trading suspension?

The Company states that its daily operations and business activities remain normal and unaffected by the trading suspension, and that it continues to carry out its business plans and serve clients as usual.

How is Etoiles Capital Group responding to the SEC’s trading suspension?

The Company says its management and board take the matter very seriously and are fully committed to cooperating with the SEC and relevant regulatory authorities during the suspension period.

What action might Etoiles Capital Group take against false or libelous information?

Etoiles Capital Group states that if it becomes aware of any false, misleading, or libelous information about the Company, its management, or its securities, it will take all necessary and appropriate legal actions to safeguard its interests and protect shareholders.