Under the current schedule presented by Missouri lawmakers, the first legal use of medical marijuana by Missouri residents could occur as soon as the end of 2019. While constitutional, criminal, and medical issues appear at the forefront of this legal revolution, employers in Missouri and neighboring states may be primarily concerned with how this legal
On May 2, 2019, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) published A Framework for OFAC Compliance Commitments, which identifies five essential components of an effective Risk-Based Sanctions Compliance Program. While companies are not legally required to implement a program, a failure to follow these principles increases the risks of sanctions violations
The Securities and Exchange Commission (“SEC”) charged Stephen Brandon Anderson and his company, River Source Wealth Management, an RIA located in North Carolina alleging the firm systematically overcharging his clients. The SEC alleges that the Anderson charged approximately 40% more than the agreed-upon maximum customer advisory fees. The SEC said that Anderson also misled his
Yesterday, the SEC sought emergency action in federal court charging Robert Morgan, a New York residential and commercial real estate developer, and two of his entities, Morgan Mezzanine Fund Manager LLC and Morgan Acquisitions, LLC, with fraud for siphoning and misusing investor funds. The SEC seeks an asset freeze and other relief. The SEC alleges
Allied Wallet, described as a provider of e-commerce merchant services and online payment processing services, settled claims by the Federal Trade Commission (FTC) that it assisted numerous scams by knowingly processing fraudulent transactions to consumers’ accounts. According to the complaint, Allied Wallet assisted companies that were the subject to law enforcement action by the FTC
The NCAA announced yesterday that it has formed a working group to examine issues related to college athletes receiving benefits for the use of their name, image and likeness (“NIL”). The formation of the working group was prompted by recent federal and state legislative proposals that would allow college athletes to receive payment for their
Yesterday, the Middle District of Florida entered a Consent Order for Permanent Injunction, Civil Monetary Penalty, and Other Equitable Relief against Dr. Michael Shahand and Zilmil, Inc., who allegedly engaged in a large-scale internet fraud scheme from at least June 2013 through July 10, 2017, involving off-exchange binary options. A binary option is a type of
Kennyhertz Perry Attorney Braden Perry was recently featured in a Disruptor Daily article discussing benefits of Blockchain in the cannabis industry. Mr. Perry was one of six experts to discuss the emerging technology. “Most marijuana companies would benefit from some aspect of blockchain technology, from the supply of products, fair pricing, efficient supply and improved product
Kennyhertz Perry is proud to welcome Ben Tompkins to the firm. Previously, Ben spent eight years with the U.S. Department of Justice Tax Division in Washington D.C and three years as an Assistant U.S Attorney in Los Angeles. Ben has litigated more than 100 civil tax cases, made several of the largest recoveries in D.O.J
Recently, the Federal Trade Commission has approved final consent orders against Patriot Puck and Sandpiper/PiperGear in which the agency alleged that companies falsely claimed their products were made in the United States. In both cases, much of the products finished goods were imported or had imported components. Marketers and manufacturers that promote their products as
Today, the Federal Bureau of Investigation, Cyber Division released Private Industry Notification (PIN) 20190423-001 regarding continued observation of U.S. businesses’ reporting significant losses caused by cyber insider threat actors, including former or disgruntled employees exploiting their enhanced privileges—such as unfettered access to company networks and software, remote login credentials, and administrative permissions—to harm companies. Kennyhertz
In February 2017, the NCAA and the 11 FBS conferences settled a class action lawsuit relating to the NCAA’s previous limit on athlete compensation. The $208.7 million settlement, part of the Alston case, resolved damages claims brought by scholarship athletes in football and men’s and women’s basketball who claimed that the NCAA’s then limit on
