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September 02, 2015 2:17 PM ET

Consumer Finance

Company Overview of MRU Holdings, Inc.

Company Overview

MRU Holdings, Inc. provides funds to students for higher education in the United States. The company markets its loan products under ‘MyRichUncle’ brand name. The company also develops college admissions software for colleges and universities, as well as foundations and scholarship providers. MRU Holdings, Inc. was formerly known as Iempower, Inc. and changed its name to MRU Holdings, Inc. in July 2004. The company was founded in 2000 and is based in New York, New York. On February 6, 2009, MRU Holdings, Inc. filed a voluntary petition for liquidation under Chapter 7 in the US Bankruptcy Court for the Southern District of New York, Manhattan.

590 Madison Avenue

13th Floor

New York, NY 10022

United States

Founded in 2000

78 Employees





Key Executives for MRU Holdings, Inc.

MRU Holdings, Inc. does not have any Key Executives recorded.

MRU Holdings, Inc. Key Developments

SEC Revokes Registration Of Securities Of MRU Holdings

An Administrative Law Judge issued an Initial Decision in the matter of MRU Holdings, Inc. The Initial Decision found that the company’s securities registered with the Securities and Exchange Commission (SEC or the Commission) pursuant to Section 12(g) of the Securities Exchange Act of 1934, failed to file required periodic reports, and that the evidence supported revocation of its registered securities as necessary and appropriate for the protection of investors.

SEC Orders Hearing On Registration Suspension Or Revocation Against MRU Holdings

In conjunction with the trading suspension, Securities and Exchange Commission (SEC or Commission) also instituted public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of MRU Holdings, Inc. for failure to make required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceedings.

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