Braden Perry Quoted in Blockworks Article on Why the Studio that Produced ‘Pulp Fiction’ is Suing Quentin Tarantino Over NFTs
Miramax, the studio that produced Pulp Fiction, filed a lawsuit against director Quentin Tarantino for allegedly committing copyright infringement, trademark infringement, breach of contract and unfair competition over the upcoming sale of a “Pulp Fiction” non-fungible token (NFT) collection. According to the suit, the studio previously served the director’s team a cease-and-desist letter to block the auction, but the sale is still set to begin in December on OpenSea.
This lawsuit could potentially throw a wrench in Tarantino’s plans, as well as challenge traditional contractual and copyright legal principles, according to Kennyhertz Perry partner and former CFTC enforcement attorney, Braden Perry.
“This case is an example of how complicated the evolving electronic world has become. NFT rights and ownership are highly complex and outside the regulatory [and] current legal guardrails,” Perry told Blockworks. “The implications for the NFT space [are] significant. Here, when technology surpasses a regulatory scheme, there’s no precedent nor guidance, and individual cases will have to fill in the many blanks in the emerging field.”
Kennyhertz Perry advises clients on a wide range of commodities and derivatives regulatory matters. Kennyhertz Perry has experience in all types of derivative transactions and design structures to meet clients’ specific trading, financial, and/or credit needs. The roots of the practice are in the commodities markets, where Kennyhertz Perry partner Braden Perry spent time as a Senior Trial Attorney with the Commodity Futures Trading Commission. Our lawyers regularly advise our clients on compliance with the complex laws and regulations governing the securities and derivatives industries, including the Commodity Futures Modernization Act of 2000, the Commodity Exchange Act, the Gramm-Leach-Bliley Act, the Securities Acts of 1933 and 1934, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the SEC and CFTC regulations, the rules of the various derivatives exchanges and clearinghouses and other industry self-regulatory organizations and the “Blue Sky” state securities laws. Keeping abreast of regulatory developments is imperative and enables our lawyers to guide clients on comment-making about proposed legislation and regulation, provide ongoing operational and compliance counseling, and offer advice on appropriate modifications of transaction structure and documentation.
Clients also benefit from Kennyhertz Perry’s experience in related areas of law, such as litigation, banking, securities, insurance, and its regular practice before the Commodity Futures Trading Commission. Leaders in the financial industry choose Kennyhertz Perry because the firm’s lawyers tailor their advice to the unique issues presented by each matter they handle.
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