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Join the Securities Litigation and Enforcement Group on LinkedInCooley Keeps Up With Kim Kardashian in $1.26M SEC Settlement | National Law Journal
When reality TV star and entrepreneur Kim Kardashian came under scrutiny from the U.S. Securities and Exchange Commission over her endorsement of a cryptocurrency product, she turned to Cooley. Kardashian agreed to pay $1.26 million in penalties and disgorgement as the SEC accused her of violating the anti-touting provision of federal securities laws by not […]
Elon Musk Proposes Closing Twitter Deal on Original Terms – WSJ
Elon Musk has offered to close his $44 billion deal to buy Twitter Inc. on the terms he originally agreed to, according to a person familiar with the matter, an unexpected twist that could allow the two sides to avert a high-stakes trial set to begin soon. The billionaire’s lawyers communicated the proposal to Twitter’s […]
Kim Kardashian – Bloomberg
… I do not give investing advice around here, but a reasonable rule of thumb is “when celebrities or influencers endorse investment opportunities, especially crypto asset securities, that definitely means that those investment products are wrong for all investors”? Like, who was EthereumMax right for? Also, when celebrities and influencers endorse a crypto thing you’ve never […]
Covington Lures Biden White House Counsel | National Law Journal
Dana Remus—until recently assistant to the president and White House Counsel to President Joe Biden—has joined Covington & Burling as a partner. Remus served on Biden’s Day One Team, as well as the president’s campaign, as general counsel since 2019. She joins Covington’s congressional investigations, white-collar defense and investigations, public policy, and election and political […]
SEC Struggles to Stem Staff Losses as Disclosure Workload Grows
A Bloomberg Law review of Securities and Exchange Commission documents shows the agency unit in charge of corporate reporting has lost nearly a fourth of its staff since 2017 and, with replacements, its workforce has still been unable to catch up in that timespan. The staff deficit in the Division of Corporation Finance has led […]
Ex-Dewey CFO Reaches Tentative Settlement to Resolve SEC Lawsuit
The former chief financial officer of defunct law firm Dewey & LeBoeuf LLP has agreed to pay more than $95,000 to resolve SEC civil suit from 2014. Joel Sanders, who was convicted of fraud and conspiracy in 2017 but avoided jail time, was named in the Securities and Exchange Commission complaint accusing Dewey’s senior team […]
Feds Seized $311M in Bitcoin. The Crypto Hacker Stole It Back – Bloomberg
The prosecutors accuse Harmon of a very unusual crime: remotely swiping Bitcoin stored on a computer device the government had already seized in another case, brought against his older brother, Larry. As authorities watched helplessly, 713 digital tokens—then worth almost $5 million—were somehow spirited away from the “hardware wallet” they were holding in an evidence […]
Theranos Founder Elizabeth Holmes Gets Hearing on New Trial – WSJ
Theranos Inc. founder Elizabeth Holmes is due back in court this month to make the case that she deserves a new trial based on her allegations that the government manipulated testimony from a key witness who testified against her. The hearing was granted Monday by the judge who presided over Ms. Holmes’s monthslong criminal-fraud trial. […]
Kim Kardashian could be ‘tip of the iceberg’ for celeb crypto crackdown
Kardashian’s flagrant promotion of an individual crypto token was effectively low-hanging fruit for regulators, experts said. But celebs who promoted sites like Crypto.com and FTX — where customers can trade a wide swath of cryptocurrencies — could also be targets, according to crypto expert and London School of Economics visiting fellow Garrick Hileman. “I would wonder whether […]
Binance to Train Law Enforcement on How to Stop Crypto Crime
Binance, the world’s largest cryptocurrency exchange by trading volume, is putting in place a global training program to help stop crypto criminals, Matthew Price, the exchange’s head of intelligence and investigations in the Americas, told CoinDesk TV’s “First Mover” program on Monday, “It’s the first industry-led initiative to provide training to law enforcement, regulators [and] […]