Amidst the government’s ongoing efforts to combat insider trading, a recent dismissal of criminal charges for insider trading gives new insight into this constantly evolving area of law. A federal judge recently dismissed...more
In December 2022, the Department of Justice indicted eight individuals for securities fraud for allegedly operating a $114 million social media pump and dump scheme. United States v. Constantinescu, No. 4:22-CR-00612 (S.D....more
The Justice Department and the Security and Exchange Commission (SEC) have charged eight men of using their social media clout to manipulate investors in a stock pump-and-dump scheme. The defendants allegedly took to Twitter...more
Influencers and their large and impressionable followings have become a valuable marketing tool for brands big and small. However, brands and influencers alike should proceed with caution as regulators continue to scrutinize...more
A class action lawsuit filed against Kim Kardashian, Floyd Mayweather, and former professional basketball player Paul Pierce earlier this month underscores the need for celebrity endorsers to take care when they approach any...more
Welcome back to another week of the “Sports & Entertainment Spotlight.” Sadly, for the third week running (first legendary NFL coach and broadcaster John Madden, then beloved Golden Girl, Betty White), the S&E world is coming...more
Social Media has gone from frontier to “settled land of influencers” when it comes to brand promotion. In 2020, social media ad revenues reached $41.5 billion, making up nearly 30 percent of all internet and ad revenue. The...more
In a September 2 Alert, FINRA warns that scammers are using messaging app spam-casts to impersonate brokers and tout micro-cap stocks to “pump” their prices, before “dumping” their positions at the top and leaving investors...more