Securities

SEC Seeks Quick Win In Kik $100M Unregistered ICO Suit

The U.S. Securities and Exchange Commission urged a New York federal court on Friday to grant it a quick win in a case accusing Kik Interactive Inc. of conducting an unregistered initial coin offering of $100 million worth of its Kin cryptocurrency in 2017, $55 million of which was bought by U.S. investors…

Read this piece in its entirety at Law360.

Mass. Suit Accusing Fidelity Of 401(k) Kickback Scheme Axed

A Massachusetts federal judge tossed a proposed class action by a T-Mobile USA Inc. employee who accused the manager of the company’s 401(k)plan, Fidelity, of operating a so-called pay-to-play scheme in violation of the Employee Retirement Income Security Act, with the judge finding the worker couldn’t show the companies acted like fiduciaries…

Read this piece in its entirety at Law360.