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 revealing she was paid $250,000 to discuss a crypto token on her Instagram page.
Patrick Gibbs, head of Cooley’s securities litigation and enforcement group, and Michael Rhodes, global chair of the firm’s cyber, data and privacy and internet practice groups, were on the team representing Kardashian in the case.
Source: Cooley Keeps Up With Kim Kardashian in $1.26M SEC Settlement | National Law Journal
