Alcohol producer Diageo plc, has been charged by the Securities and Exchange Commission (SEC) for violating antifraud provisions of Section 17(a)(2) and (3) of the Securities Act of 1933 and particular reporting provisions of the federal securities laws. Diageo’s lack of necessary disclosure of trending shipments and sales, has lead to a misleading idea of
On February 11th, Q3 Holdings, LLC and Q3 I, LP and its principal, Michael Ackerman, were charged with over $33 million in a fraudulent digital asset scheme by the U.S. District Court of the Southern District of New York. The Commodity Futures Trading Commission (CFTC) made public the complaint, alleging that the defendants performed fraud
On June 4, 2019, the Securities and Exchange Commission (“SEC”) filed a subpoena enforcement action in the U.S. District Court for the Northern District of Illinois against Covalent Collective, a vertically integrated cannabis enterprise, for failure to produce documents in an investigation. The action relates to an SEC investigation into potential violations of registration provisions
Kennyhertz Perry Attorney Braden Perry was recently featured in a U.S. News & World Report article discussing the pros and cons of investing in private securities. The article noted that since private placements are not traded on exchanges, an individual placement may be available through one of these sources but not the others. “Two of the main
For the third straight year, Kennyhertz Perry, LLC was named “Best in Securities Law – Missouri” by the Acquisition International Hedge Fund Awards. 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 pragmatic
Kennyhertz Perry, LLC Partner Braden Perry was featured as one of several information security experts in the ABA Law Practice Today. Mr. Perry discussed the revelation that some of the country’s most prestigious law firms were hacked in an attempt to uncover confidential information, coupled with the “Panama Papers” scandal, and how it has put an uncomfortable spotlight on law firms and their data security programs.
The two-part series, entitled “Law Firm Hack Attack,” addresses the serious issues with law firms and their data security, including why law firms are targets. Mr. Perry has extensive experience advising clients in federal inquiries and investigations, particularly in enforcement matters involving complex or emerging and novel issues. He also works with clients in all industries in crafting information security programs and ensuring their current information security programs are sound.
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
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.