Hawke Quoted in Law360 on Celebrity Crypto Cases
Securities Enforcement Litigation partner Daniel Hawke was recently quoted in the Law360 article "More Celebs Could Meet SEC In Court Over Crypto Posts." The story highlights the growing number of cases where the SEC has accused celebrities of illegally promoting cryptocurrency by failing to disclose in their social media postings that they were being paid to promote the offering.
According to Hawke, it would be challenging for celebrities to argue that they were unaware of their obligation to disclose the compensation they were receiving in promoting a cryptocurrency to their large social media followings. In some cases, however, celebrities may be better off litigating with the SEC if they can show that the SEC would not have otherwise charged them but for their celebrity status, he said.
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