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Top related persons:
Kwon - 1 Terraform’s blockchain - 1 Luna - 1 Jed Rakoff - 1 Terraform - 1 Gurbir Grewal - 1 ” Grewal - 1 ” - 1
Top related locs:
Manhattan Singapore Montenegro United States South Korea
Top related orgs:
Labs - 1 US Securities and Exchange Commission - 1 SEC - 1 SEC Division - 1

Search resuls for: "” Grewal"


3 mentions found


☆ Terraform Labs and founder Do Kwon found liable in US civil fraud trial
  + stars: | 2024-04-05 | by ( ) edition.cnn.com   time to read: +4 min
Kwon designed TerraUSD and Luna, a more traditional token that fluctuated in value but was closely linked to TerraUSD. The SEC is seeking civil financial penalties and orders barring Kwon and Terraform from the securities industry. Kwon falsely attributed the recovery to the reliability of TerraUSD’s algorithms, according to the regulator. Earlier in the case, Terraform argued that securities laws did not apply to the cryptocurrencies it developed. After a final judgment in the case, Terraform will be able to challenge that ruling on appeal.
Persons: Kwon, Terraform’s blockchain, Luna, Jed Rakoff, Terraform, Gurbir Grewal, ” Grewal, ”, Laura Meehan, ” Meehan, Terraform’s, Louis Pellegrino, ” Pellegrino, Rakoff Organizations: Labs, US Securities and Exchange Commission, SEC, SEC Division Locations: Manhattan, Singapore, Montenegro, United States, South Korea
☆ SEC fines McDonald's ex-CEO Easterbrook $400,000 for allegedly misleading investors about his firing
  + stars: | 2023-01-09 | by ( Parija Kavilanz | ) edition.cnn.com   time to read: +3 min
New York CNN —Disgraced former McDonald’s CEO Steve Easterbrook will pay $400,000 to settle charges that he allegedly misled investors about the circumstances of his 2019 firing following a relationship with an employee. McDonald’s later filed a lawsuit against Easterbrook that ended with the ex-CEO paying back his $105 million severance payment, but the SEC charged both the executive and the company for making such a deal in the first place. In addition to the $400,000 civil penalty, Easterbrook is also banned from serving as a director or officer at any company that reports to the SEC. In August 2020, McDonald’s filed a lawsuit claiming Easterbrook lied to the board about the extent of his relationships with employees. Steve Easterbrook, former CEO of McDonald's Corp. Brendan McDermid/ReutersMcDonald’s settled the lawsuit with Easterbrook in 2021, forcing him to repay his severance package of $105 million.
☆ Coinbase reaches $100 million settlement with New York regulators
  + stars: | 2023-01-04 | by ( Allison Morrow | ) edition.cnn.com   time to read: +2 min
New York CNN —Coinbase, one of the most popular US crypto-trading platforms, agreed to a $100 million settlement after New York regulators found “significant failures” to comply with the state’s anti-money-laundering laws. The settlement includes a $50 million penalty Coinbase must pay to the New York Department of Financial Services and a pledge to spend $50 million to strengthen the company’t compliance program over the next two years. The regulator said it had installed an independent monitor to investigate, and that monitor will remain in place for at least another year as needed. Coinbase’s statement included reference to the so-called crypto winter — a chill that hit the industry in 2022, bringing down several companies, including Sam Bankman-Fried’s FTX. “We recognize that the crypto industry is at an inflection point right now and that every public move by a crypto company will receive intense scrutiny,” Grewal said.
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