Author Archives: UMBLR

Expect More Challenges to the SEC “Gag Rule” 

John Paul Brophy – Legal disputes often end with a settlement. When the Security and Exchange Commission (the “SEC”) settles a dispute, it requires the opposing party to include a “no deny” clause in the resulting settlement agreement. The purpose of the SEC’s “no deny” clause is to prevent the settling party from being able […]

NFTs: The Unexpected New Marketplace for Dupe Designer Handbags

Arielle Flamenbaum – In 2021, digital designer Mason Rothschild produced and marketed 100 Non-Fungible Tokens (NFTs) he called “MetaBirkins,” which depicted digitally created Hermès Birkin handbags that looked like they were made of fur. By January 2022, Rothschild’s NFT series generated about $1.2 million in sales. In response, Hermès sued Rothschild. The French luxury design […]

The SEC v. Ripple Lawsuit Exposes the Limits of the Howey Test

Meryl R. Jimenez—Amidst the global pandemic of 2020, the SEC filed a complaint against Ripple Labs Inc. and two of its top executives, Chris Larsen and Bradley Garlinghouse, alleging that Ripple raised $1.38 billion through the sale of 14.3 billion units of unregistered securities. The SEC’s complaint resurfaces an old legal question, this time with […]

The Age of the Digital Celebrity is Here

Alexander Plansky—Contrary to reports that Bruce Willis sold the rights to use his face to a deepfake company, representatives for both the actor and the company have denied those rumors. Willis’ recent aphasia diagnosis led to his retirement from acting after a decades-long Hollywood career. It was originally reported that by selling his image to […]