Thursday, February 11, 2021
I have already written two blog posts on the GameStop Saga: “Rupture Rapture: Should the GameStop?” on February 2, 2021, and “Inciting to Rupture: Keith Gill and the GameStop Surge” on February 9, 2021. There are a number of other companies whose shares have seen buying surges akin to what happened to GameStop in January 2021: AMC Entertainment; Nokia; Koss, Corp.; and up to nine others (based upon the January 28 trading halt on Robinhood for the stocks of 13 companies). One of those affected was Bed Bath & Beyond (“BBB”), a retail chain selling kitchen, bedroom, bathroom, and related items. BBB had fallen on hard times since going public in 1992 but underwent a major management change in 2019 brought about by the intervention of three activist private equity firms. With new management in place, BBB announced that it would close 60 stores in early 2020. After COVID hit, the company announced that it would close some 200 stor
The Corporate Transparency Act combats the laundering of illicit funds through anonymous "shell" companies. The CTA will require certain corporations and limited liability companies to file reports with FinCEN, identifying all of the reporting entity's "beneficial owners."
Monday, February 8, 2021
On February 1, 2021, the U.S. Securities and Exchange Commission (SEC) announced that it had brought charges against several individuals involved in an alleged scheme to induce investors to transfer more than $11 million to buy into an unregistered initial coin offering (ICO) of B2G tokens, which the SEC claimed was merely an elaborate sham. (
SEC v. Krstic, No. 21-0529 (E.D.N.Y. Filed Feb. 1, 2021)). The complaint, filed in the Eastern District of New York, alleged that Kristijan Krstic (“Krstic”), John DeMarr (“DeMarr”), and Robin Enos (“Enos”) (collectively, “Defendants”) conspired, in violation of securities laws, to defraud over 460 investors of $11.4 million with promises of large returns on investments from its offerings, including for B2G tokens that the defendants claimed were genuine digital assets for a mining and trading platform.
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Legal Disclaimer
You are responsible for reading, understanding and agreeing to the National Law Review s (NLR’s) and the National Law Forum LLC s Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.