News & Analysis as of

Settlement Misleading Statements

BCLP

SEC Penalizes Company for "Unsupported Hype"

BCLP on

The SEC announced settled charges against Zymergen Inc. in connection with its IPO based on misleading statements about its market potential, revenue prospects and customer pipeline. After raising $530 million in the 2021...more

Baker Donelson

AI Firm Reaches Settlement With Texas Attorney General Over Misleading Accuracy Claims

Baker Donelson on

Texas Attorney General, Ken Paxton, (the Attorney General) announced on September 19, 2024, a landmark settlement with Pieces Technologies (Pieces) over allegations of false and misleading claims about the capabilities of its...more

Moritt Hock & Hamroff LLP

CarShield’s $10 Million Lesson: A Tale Of Deceptive Advertising

I was recently in the potential market for an extended car warranty. After a bit of research, I contacted CarShield to explore my options. I spoke with a representative who heartily congratulated me on qualifying for one of...more

Dechert LLP

Dechert Cyber Bits - Issue 59

Dechert LLP on

U.S. Court Axes Most of SEC's SolarWinds Data Breach Suit - The U.S. District Court for the Southern District of New York recently dismissed much of the U.S. Securities and Exchange Commission’s (“SEC”) suit against...more

Hinch Newman LLP

1MM FTC Settlement With Online Used Car Dealer Over Alleged Misrepresentations and Failing to Deliver on Time

Hinch Newman LLP on

On July 2, 2024 the Federal Trade Commission announced that it initiated action against online used car dealer Vroom for allegedly misrepresenting that it thoroughly examined all vehicles before listing them for sale and...more

Hinch Newman LLP

First Case Where FTC Charges Company in Gig Economy With Violating the Business Opportunity Rule

Hinch Newman LLP on

On July 2, 2024, the Federal Trade Commission announced that it is taking action against a gig work company for allegedly misleading consumers about the money they could make on the company’s platform and marketing its...more

Proskauer Rose LLP

Unrepresentative Returns: SEC Sanctions Hedge Fund Manager for Misleading Marketing Practices

Proskauer Rose LLP on

On June 14, 2024, the SEC announced an enforcement action settlement with a Pennsylvania-based hedge fund manager for violating the Marketing Rule under the Investment Advisers Act. The SEC found that the adviser had misled...more

Troutman Pepper

FINRA’s First Disciplinary Action Targeting Firm’s Use of Social Media Influencers

Troutman Pepper on

The Financial Industry Regulatory Authority’s (FINRA) Enforcement Division recently announced its first settlement involving a firm’s supervision of social media influencers. The respondent, M1 Finance LLC (M1), is a...more

Seward & Kissel LLP

SEC Settles Charges with Advisers for Marketing Rule Violations Related to AI Washing

Seward & Kissel LLP on

Who may be interested: Investment Advisers - Quick Take: The SEC recently settled charges with two investment advisers, through separate orders, relating to each adviser’s alleged violations of Rule 206(4)-1 under the...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: March 1, 2024

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

White & Case LLP

New Settlements Demonstrate the SEC’s Ongoing Efforts to Hold Companies Accountable for AI-Washing

White & Case LLP on

In the past few months, we have published several alerts concerning the increase in regulatory attention to "AI washing," or making unfounded claims regarding artificial intelligence ("AI") capabilities.1 Senior officials at...more

Alston & Bird

Class Action & MDL Roundup 2023 Q4 - Not All Cases Survive and Advance

Alston & Bird on

Welcome to the Class Action & MDL Roundup, our quarterly review of decisions and settlements in the class action arena. In this edition, student-athletes win an NIL round, Canadians in California isn’t personal...more

Sheppard Mullin Richter & Hampton LLP

SEC Cracks Down on Over-Hyped AI Claims – Director Says This is Just the Beginning

The SEC has charged and settled claims with two Investment advisers with making false and misleading statements about their use of artificial intelligence (AI). The SEC found that Delphia (USA) Inc. and Global Predictions...more

WilmerHale

FTC Enters Consent Agreement With Blackbaud Following Major Data Breach

WilmerHale on

On February 1, the Federal Trade Commission (FTC or “the Commission”) announced that it had reached a settlement with Blackbaud, a software company, resolving claims related to a 2020 data breach that resulted in the...more

Sheppard Mullin Richter & Hampton LLP

CFPB Settles Claims Against Operator of Training Program for Activities Arising out of Income Share Agreements

On November 20, the CFPB, along with 11 state attorneys general and state regulators, entered into a stipulated final judgement and order with a Delaware-based company and two affiliated companies (“defendants”) in the...more

Davis Wright Tremaine LLP

Stay ADvised: Brand Protection & Advertising Law News - December 2023

In This Case, What You Can't See in Fact Is Not There: FTC Takes Down the Makers of the Invisible COVID Mask - After what has seemed like a lull in both diagnosed COVID cases and the enforcement variety—both the virus and...more

Goodwin

SEC Announces the First Enforcement Action under the New Marketing Rule

Goodwin on

The U.S. Securities and Exchange Commission (the “SEC”) announced on August 21, 2023 that it has settled with a FinTech registered investment adviser (the “Adviser”) that offers multiple investment strategies, including a...more

Orrick, Herrington & Sutcliffe LLP

Bank to pay $1 billion to settle investors’ compliance claims

Last month, the U.S. District Court for the Southern District of New York preliminarily approved a securities litigation settlement that would require a national bank to pay $1 billion to resolve class claims that it...more

Keating Muething & Klekamp PLL

SEC Charges Public Company for Misleading Non-GAAP Disclosures

On March 14, 2023, DXC Technology Company (“DXC”) settled with the Securities and Exchange Commission (“SEC”) for $8 million regarding alleged misleading disclosures in DXC’s public filings. The SEC claimed DXC made...more

Hinch Newman LLP

Roundup of Recent FTC Consumer Protection Matters of Interest to Digital Advertisers

Hinch Newman LLP on

February 2023 has been a busy couple of months at the Federal Trade Commission. High-profile consumer protection actions and announcements span a broad spectrum of digital advertising and marketing. From “review hijacking,...more

Sheppard Mullin Richter & Hampton LLP

CFPB Settles with “Debt Collection Mill”

On January 11, the CFPB and a debt-collection law firm it sued in 2019 for illegal debt-collection practices reached settlement. The CFPB included in its initial complaint against the defendant allegations that the law firm...more

Goodwin

Arizona AG Announces $1.6 Million Settlement with Debt Collectors

Goodwin on

On May 16, 2022, the Arizona Attorney General’s Office (Arizona AG) announced that it reached a settlement agreement with the owner of several debt collection companies regarding alleged deceptive debt collection practices in...more

International Lawyers Network

Don’t Be Bamboozled by Environmental Benefit Claims

$5.5 Million FTC Settlements for Bamboo Textile and Environmental Benefit Claims Under Penalty Offense Authority - The FTC recently announced that it has reached a $2.5 million settlement with Kohl’s and a $3 million...more

Goodwin

SEC Enforcement Broadens Its Crypto Focus

Goodwin on

On May 6, 2022, the U.S. Securities and Exchange Commission announced that it settled charges against NVIDIA Corporation alleging that the company’s disclosures regarding the impacts of increased use of its gaming products by...more

Dorsey & Whitney LLP

SEC Charges School District, the District’s Former Chief Financial Officer and the District’s Auditor with Violations of Federal...

Dorsey & Whitney LLP on

On March 16, 2022, the Securities and Exchange Commission (“SEC”) entered an order against a school district (Crosby Independent School District (the “District”), located in a suburb of Houston, Texas) and against the...more

35 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide