Credit: rawpixel.com/Adobe Stock 'Parting Shot': SEC Issues Wells Notice to Immutable Ahead of US Election
"If the manner of providing clarity to the industry is by winning against this attempted regulation by enforcement, then Immutable is happy to do so," Immutable said in the blog post.
November 01, 2024 at 03:23 PM
3 minute read
What You Need to Know
- The Immutable Group says it received a Wells notice from the U.S. Securities and Exchange Commission.
- The Wells notice follows others issued to players in the crypto industry by the SEC within the last few months.
- An independent expert noted the significance of the Wells notice being issued ahead of the U.S. election.
The Immutable Group announced in a blog post on Friday that the U.S. Securities and Exchange Commission issued it a Wells notice over the listing and private sales of IMX tokens, becoming the first known instance of the federal agency issuing a threat against a crypto gaming firm and within days of the U.S. election.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
State Attorney General Faces Federal Courtroom Test Over Crypto Mining Ban
4 minute read
5th Circuit Rules Open-Source Code Is Not Property in Tornado Cash Appeal
5 minute read
SEC Targets Rising Crypto Financier in $115 Million Securities Fraud
3 minute read
Texas Court Invalidates SEC’s Dealer Rule, Siding with Crypto Advocates
3 minute readTrending Stories
- 1Unpaid Real Estate Taxes; License To Enter Adjoining Property: This Week in Scott Mollen’s Realty Law Digest
- 2Baker McKenzie Builds on AI Foundation, Crafting Tools to Help Lawyers Work 'Better, Smarter'
- 3Paul Weiss, Trailblazer for U.S. Firms in China, to Close Beijing Office
- 4Formal Charges Filed Against Judge Accused of Helping Defendant Escape ICE Detention
- 5Top 10 Predicted Business and Human Rights Issues for 2025
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
