Kennyhertz Perry, LLC congratulates Braden Perry, Partner with Kennyhertz Perry, LLC, on his election to the City of Mission Hills, KS City Council. Perry was previously the Chair of the Mission Hills Board of Zoning Appeals and the Crime Prevention and Safety Committee. He has also served as a Director of the Tomahawk Road Homes Association since 2011.
Law360 spoke with Braden Perry, Kennyhertz Perry partner and former CFTC Senior Trial Attorney, regarding the Kraft/Mondelez suit accusing the snack makers of manipulating the price of wheat in 2011, and the significance of the relaxed manipulation standard under Dodd-Frank. Under rules passed out of the 2010 law, the CFTC no longer must show that traders specifically intended
In a recent Motherboard Vice News article, Kennyhertz Perry’s Braden Perry discussed the latest in the Ross Ulbricht trial and verdict. Ulbricht was on trial for federal law violations related to actions and control over Silk Road, an online black market shuttered in October 2013. Ulbricht has requested a new trial and, according to Perry, was not unexpected
Kennyhertz Perry Partner Braden Perry was selected as a panelist for the March 11, 2015 Webcast: CFTC’s Financial Market Reform in 2015: Boon or Bane? The panel will provide an overview and discussion of the latest changes to The Dodd-Frank Act that affect Financial Market Reform. Following the financial market crisis of 2008, Congress enacted
John Kennyhertz of Kennyhertz Perry has been invited to address this season’s FastTrac® NewVenture™ entrepreneurs. FastTrac is a program of the Ewing Marion Kauffman Foundation and brought to Kansas City by the UMKC Small Business & Technology Development Center in partnership with University of Missouri Extension.
In FastTrac NewVenture, aspiring business owners look at all aspects of their proposed companies, explore the feasibility of their business concept, and learn how to develop a viable business plan. Participants address start-up issues such as assessing the competition, legal matters, marketing and financial management aspects of business ownership. John will use his legal expertise to introduce the class to the basics of entity selection, first contract issues, and first employee considerations.
Braden Perry, partner in Kennyhertz Perry, LLC was contacted regarding U.S. Treasury securities and Treasury Inflation-Protected Securities (TIPS) for an article titled “Where to Invest When Safety is a Priority” for Depositaccounts.com. Perry discussed the proper due diligence when determining investments, primarily creativity coupled with common sense. Perry stated, “[t]he more research and preparation that is
Kennyhertz Perry, LLC is pleased to announce it was named “Best in Securities Law – Missouri” by the Acquisition International Hedge Fund Awards 2015. Kennyhertz Perry is a business, regulatory, government compliance, and litigation law firm representing companies and individuals in highly-regulated industries, bringing a unique mix of top law firm expertise, practical experience, and
In the first action alleging violations of the Restore Online Shoppers’ Confidence Act (ROSCA), the Federal Trade Commission charged related entities and principals, all doing business as Simple Pure Nutrition, of marketed dietary supplements and weight loss products using the Internet, print, radio, and television without basis for the claims made. ROSCA prohibits marketers from finalizing an
The SEC approved amendments to NASD Rule 2340 (Customer Account Statements) to modify requirements regarding to the inclusion of per share estimated values for direct participation program (DPP) and unlisted real estate investment trust (REIT) securities on account statements, and to FINRA Rule 2310 (Direct Participation Programs) to make corresponding changes to the requirements to members’ participation in public offerings of DPP
KMBZ Radio – Kennyhertz Interviews Entrepreneurs Jason Grill, Ryan Maybee, Rafi Chaudry, and Travis Moore
Once a month, John Kennyhertz co-hosts the “Entrepreneur KC Show” on KMBZ Business Channel 1660 AM. This month’s show featured Ryan Maybee, co-founder and owner of J. Rieger & Co. Whiskey, as well as the historic Rieger Hotel Restaurant and Manifesto in the Crossroads District of downtown Kansas City. The last segment features the owners and brew masters from Torn Label Brewing Company. You can download the podcast at http://media.kmbz.com/a/101139620/entrepreneur-kc-radio-1-20-15.htm.
Kennyhertz Perry in partnership with J. Grill Media and KMBZ Radio, highlights entrepreneurs, startups, innovation and technologies that are changing lives on the Silicon Prairie and the legal issues these businesses and individual face daily. Tune in Thursdays between 1 and 2 pm on the KMBZ Business Channel 1660 AM.
Kennyhertz Perry Client Memorandum: Private Right of Action for Selling Unregistered Securities in Kansas
The Kansas Uniform Securities Act (K.S.A. 17-12a101 through 17-12a703) regulates the promotion of speculative securities to protect investors. Enforcement of the Act may be handled by the Kansas Securities Commissioner, but private actions are also authorized in certain circumstances.
A security is any proof of ownership or debt assigned a value and may be sold. Common types of securities are stocks, bonds, and options. The rules regarding “crowdfunding” as a security were relaxed after the JOBS (Jumpstart Our Business Startups) Act was passed in 2012. The JOBS Act allows everyone the ability to invest in startups, with investment caps based on one’s income.
As a general rule, it is unlawful to sell unregistered securities in Kansas. There are two exceptions to that rule:
- The security is a federal covered security, or
- The security, transaction, or offer is exempted from registration.
In early October 2014, the Federal Trade Commission (FTC) and Defendants Applied Marketing Sciences, LLC, Standard Registration Corporation, Worldwide Information Systems, Incorporated, and Liam O. Moran stipulated to an Order for Permanent Injunction and Monetary Judgment for violations of Section 5 of the FTC Act, 15 U.S.C. §45. The Complaint charged that the defendants participated in deceptive acts or practices in the advertising, marketing, promoting, offering for sale, or selling of prize promotions.
The FTC sued because the above-named defendants were running a sweepstakes in which consumers would receive personalized mailings advising that they had won a cash prize not more than $2 million, and that they needed to pay a twenty or thirty dollar fee to collect their prize. The consumers who paid the fee, mostly individuals over the age of 65, received nothing in return.