Daily Archives: February 23, 2023, 3:42 pm

SEC Charges Ozy Media and its CEO Carlos Watson with Widespread Scheme to Defraud Investors

The Securities and Exchange Commission today charged media and entertainment company Ozy Media Inc., its CEO Carlos R. Watson, Jr., its former COO Samir Rao, and its former Chief of Staff Suzee Han with defrauding investors of approximately $50 million through repeated misrepresentations concerning the company’s basic financial condition, business relationships, and fundraising efforts. Rao and Han have agreed to…

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SEC Charges Cousins for Insider Trading in Kodak Stock Ahead of Company’s Planned Govt. Partnership to Assist in Response to COVID-19

The Securities and Exchange Commission today charged Andrew Stiles for insider trading in the stocks of Eastman Kodak Company and Novavax, Inc. based on nonpublic information related to both companies’ planned government partnerships to assist in the fight against COVID-19 at the height of the pandemic. The SEC also charged Andrew Stiles’ cousin, Gray Stiles, of Richmond, Virginia, for insider…

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Reed Smith adds distinguished white collar partner Evan Barr in New York | News | Reed Smith LLP

Reed Smith today announced the addition of Evan Barr as a partner in its Regulatory and Investigations Group. A seasoned litigator and respected trial lawyer, Barr represents individuals and companies in complex investigations and enforcement actions brought by, among others, the Department of Justice, the SEC and the Manhattan District Attorney’s Office. He will work in the firm’s New York…

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NBA-Branded ‘Top Shot Moments’ NFTs May Be Securities, Judge Rules in Dapper Labs Case

The offering of Dapper Labs’ NBA-branded “Top Shot” non-fungible tokens might be securities, a federal judge ruled Wednesday. The ruling on a motion to dismiss comes a year and a half after a class-action lawsuit was filed against Dapper Labs and its CEO, Roham Gharegozlu, in New York. The lawsuit alleges Gharegozlu and Dapper Labs violated federal securities laws by…

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PCAOB Enforcement Activity Up Sharply in 2022, with Highest Monetary Penalties Imposed in the Board’s History – Cornerstone Research

The Public Company Accounting Oversight Board (PCAOB) increased its enforcement activity sharply in 2022, disclosing the most enforcement actions in five years, and handing down the highest monetary penalties since its establishment in 2002, according to a new report released today by Cornerstone Research. The report, PCAOB Enforcement Activity—2022 Year in Review, found that in 2022, the PCAOB disclosed 29…

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