Schultz Quoted in The National Law Journal on SEC Charge Against Social Media Influencers
Securities Enforcement & Litigation partner Christian Schultz was quoted in The National Law Journal article “Social Media Influencers' $100 Million SEC Charge Hints at Tighter Enforcement Going Forward.” The article discusses the seven influencers charged with fraud after the Southern District of Texas District Court filed a criminal complaint against them for running a “pump and dump” scheme against their followers.
Schultz noted that while securities violations by celebrities isn’t new, the breadth of detail in the complaint showed impressive work by the SEC’s in-house experts and close collaboration between the SEC and other government agencies.
This article was also posted on The Recorder.
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