After that, the WeWork stock rose almost 150% in after-hours trading. "Larmore purchased more than 72,000 call options in WeWork at a price far below the stock price in the days before the press release was published, hoping to execute the trades at profit after manipulating the stock price," federal authorities stated. "However, due to a delay in the issuance of the press release, most of the options expired before Larmore could exercise them." The SEC complaint was filed in U.S. District Court in Arizona. ArciTerra is based in Phoenix. It charges Larmore, ArciTerra and related entities that Larmore controlled with violating federal security laws, including antifraud provisions. Federal authorities want "permanent injunctive relief, the appointment of a receiver, disgorgement and prejudgment interest, and a civil penalty, and other relief," it stated in the news release. The SEC investigation is ongoing, it stated.