Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Katten Muchin Rosenman"


3 mentions found


CompaniesLaw Firms Ripple Labs Inc FollowCoinbase Global Inc FollowJuly 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. An SEC spokesperson said the agency was pleased with part of the ruling in which the judge held that Ripple violated federal securities law by selling XRP directly to sophisticated investors. XRP sales on cryptocurrency platforms by Garlinghouse and co-founder and former CEO Chris Larsen, and other distributions including compensation to employees also did not involve securities, Torres ruled. PARTIAL WIN FOR THE SECThe SEC won a partial victory as Torres found the company's $728.9 million of XRP sales to hedge funds and other sophisticated buyers amounted to unregistered sales of securities. Both the Ripple and Coinbase cases focus on registration requirements and whether certain digital assets are securities under U.S. law.
Persons: XRP, Analisa Torres, Brad Garlinghouse, We’ve, Torres, Paul Grewal, Chris Larsen, Garlinghouse, Larsen, Gary DeWaal, Rosenman, Tom Emmer, Jody Godoy, Chris Prentice, Tom Hals, Chizu Nomiyama, Conor Humphries, Leslie Adler, David Gregorio Our Organizations: Labs, Ripple Labs, U.S, District, U.S . Securities, Exchange Commission, SEC, Twitter, Supreme, WIN FOR, Republican, Thomson Locations: U.S, XRP, Katten, New York, Wilmington , Delaware
Pierce, who allegedly received nearly $250,000 in EMax tokens as payment for touting the investment, paid $1.4 million in February to settle the SEC’s allegations of deceptive securities promotion. The new ruling, Masson said, should serve as a blueprint for crypto investors who contend they were duped by celebrity promoters. The beefed-up amended complaint convinced the judge that investors had plausibly accused the celebrity influencers of doing just that: exerting influence over their followers by endorsing EMax tokens. Fitzgerald’s previous decision dismissing claims against Kardashian and the other EMax promoters, Masson said, might have created an impression that celebrities can’t be held responsible for allegedly deceptive crypto touting. “You cannot get away with this.”Read more:Kim Kardashian, other celebrities beat EMax crypto investors' lawsuitKim Kardashian pays $1.26 million fine for paid crypto ad, SEC saysOur Standards: The Thomson Reuters Trust Principles.
Persons: Kim Kardashian, Michael Fitzgerald, Kardashian, Floyd Mayweather, famer Paul Pierce, Mayweather, Pierce “, , Fitzgerald, Hyping, you’ve, Scott, , ” Fitzgerald, Michael Rhodes, Cooley, Pierce, Joel Weiner, Katten Muchin Rosenman, James Sanders, Reed Smith, influencer Logan Paul, Paul, King & Spalding, Sean Masson, Scott —, Kardashian —, EMax, Masson, , can’t, ” Masson, ” Read Organizations: District, Los, NBA, famer, U.S . Circuit, Securities, Exchange Commission, King &, SEC, Thomson, Reuters Locations: California, , Florida
Federal Trade Commission guidelines for advertising health-related products just got a big refresh—and they could be a rude awakening for marketers making overzealous claims about products such as supplements or health apps. Here is what marketers should know about the new guidelines and what they will mean for the industry. “They consider anything that has some claimed benefit for human health to be a health product,” he said. And I think this just sort of formalizes the fact that it’s going to do that.”What kind of substantiation is needed to make health claims? Yadim Medore, founder and CEO of dietary supplement-focused consulting firm Pure Branding Inc., said the new guidelines will raise the bar for the kind of research needed for companies to make health claims.
Total: 3