Cease and Desist
Nexo agrees to $45M settlement with SEC and states over earn product
Crypto lender Nexo Capital has agreed to pay $45 million in penalties to the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) for failing to register the offer and sale of its Earn Interest Product (EIP). The news was announced by the SEC and NASAA in two separate statements on Jan. 19. According to the statement from the SEC, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors. The additional $22.5 million will be paid in fines to settle similar charges by state regulatory authorities, the report said. NASAA said in its statement that the settlement in principle comes after investigations into Nexo’s alleged offer and sale of securities after the past year of inv...
Gorilla Glue Girl Files Cease and Desist Over “My Hair, It Don’t Move” Sample in Viral Song
<span class="localtime" data-ltformat="F j, Y | g:ia" data-lttime="2021-05-31T17:39:58+00:00“>May 31, 2021 | 1:39pm ET At the start of this year, TikTok user Tessica Brown became a viral sensation after using Gorilla Glue clear adhesive spray to hold down her braided ponytail, unaware that it would cause permanent damage. Her original video was both a plea for help and a cautionary warning, but the internet turned it into a meme-turned-shaming session. Thankfully, Brown was eventually helped by a plastic surgeon free of charge, but now she’s up against the next worst thing: a stranger profiting from her pain by way of a song remix sample. Someone named Cocoa Brown has uploaded a song to streaming services called “Bad Idea (Gorilla Glue Girl Remix)”. As ...
John Fogerty Serves Trump with Cease and Desist Over Use of “Fortunate Son”
Donald Trump is not the introspective type, and so he has no qualms about playing “Fortunate Son” at campaign rallies without permission. The CCR classic was written by a US Army veteran about children of privilege who found ways — for example, lying about bone spurs — to avoid the draft lottery during the Vietnam War. But even if Trump can’t comprehend the irony, that songwriter has had enough. John Fogerty has issued a “cease and desist” order, tweeting, “He is using my words and my voice to portray a message that I do not endorse.” Fogerty posted his statement along with a picture of himself in uniform. He said “Fortunate Song” came about “because, as a veteran, I was disgusted that some people were allowed to be excluded from serving our country because they had access to political and...
