Social media and cryptocurrency fraud

By Susan Ross (US) and Paul Guirguis (US) on March 15, 2022 Posted in Fraud

Creators of fraudulent crypto assets beware.  A recent court decision supported investors, creators and marketers of legitimate crypto assets, and the integrity of the crypto asset market as a whole. While the creator of BitConnect remains at large and is facing his own indictment for his role in the scheme that allegedly defrauded investors of … Continue reading

Australia takes the international lead in social media regulation

By Cassandra Gizzo (US), Lindsay Weinstein (US), Kirk Boladeras (AU) and Siobhan Rooney (AU) on February 28, 2022 Posted in General

In December 2021, our post “Increased likelihood of US social media regulation” discussed Facebook whistleblower Frances Haugen and her call to hold social media platforms accountable for the potentially dangerous content that appears on their sites. In February 2022, Haugen once again flagged Facebook’s algorithms as potentially harmful, but this time Haugen was speaking outside … Continue reading

Intellectual property rights in the Metaverse

By Daniel Daniele (CA) and Bryant Oakes (CA) on February 15, 2022 Posted in Patent

The metaverse is the answer to escaping your couch without actually leaving it to do whatever you want in a paralleled virtual universe – hangout with friends, drive race cars, shop designer brands, buy digital land, or do just about anything else you can imagine. The metaverse may seem far-fetched, but so did smart phones … Continue reading

Nikola Corporation agrees to pay $125 million to settle SEC investor fraud case

By Susan Ross (US) on January 31, 2022 Posted in General

In December 2021, the Securities and Exchange Commission (“SEC”) announced that Nikola Corporation (“Nikola”) agreed to pay $125 million to settle charges that the company allegedly defrauded investors and misled them about its products, technical advancements, and commercial prospects. Nikola did not admit or deny the SEC’s findings.   Earlier that same year, the SEC filed … Continue reading

Think using common terms on social media posts is no sweat? Think again.

By Stephanie Schmidt (US) on January 6, 2022 Posted in Trademark

On November 11, 2021, fitness-tech company iFIT, Inc. (“iFIT”) filed a complaint in the U.S. District  Court for the district of Utah, claiming that lingerie and beauty retailer Victoria’s Secret infringed upon its registered SWEAT trademarks by prominently using “SWEAT” in its social media promotions for its fitness apparel and services.… Continue reading

Federal Reserve and social media

By Susan Ross (US) and Paul Guirguis (US) on December 20, 2021 Posted in General

In November of 2021, the Board of Governors of the Federal Reserve (the “Fed”) issued its Federal Reserve Financial Stability Report, a biannual report focused on potential risks to the financial system.  In this issue, the Fed highlighted the role of social media and retail investors in equity market volatility.… Continue reading

Increased likelihood of US social media regulation

By Cassandra Gizzo (US) on December 9, 2021 Posted in General

There is momentum to reform part of the 1996 Communications Decency Act that shields social media platforms from liability for third-party posts.… Continue reading

Employer’s tweet may be unfair labor practice

By Phil Di Tullio (US) on December 1, 2021 Posted in Employment and labor

Can a tweet be an unfair labor practice? On November 10, 2021, the Third Circuit Court of Appeals entertained oral arguments to determine just that. The tweet at issue: “[F]irst one of you tries to unionize I swear I’ll send you back to the salt mine.” According to the National Labor Relations Board (“NLRB”), this … Continue reading

Social media regulation on the horizon: how should your business prepare?

By Daniel Daniele (CA) on November 12, 2021 Posted in General

Big changes are coming to social media. No, we are not referring to the rise of “super apps” or Facebook’s retreat from the facial recognition space. This time, changes are coming from the top-down in Canada and businesses would be wise to take note.… Continue reading

Positively negative: Lack of social media helps defeat default judgment motion

By Susan Ross (US) on November 9, 2021 Posted in Trademark

On November 2, 2021, a federal trial court in New York issued an opinion that combined breakfast restaurants, social media, trademarks, and COVID.  The judge ultimately ruled against the registered trademark owner’s request for a default judgment, in part based upon the defendant’s lack of social media advertising.  BYC, Inc. v. Broken Yolk, civ. no. … Continue reading