Sept. 14, 2023
In an article published on September 8, 2023 in Law360, Nelson Mullins partner Matthew Lindenbaum was mentioned for his representation of Linus Financial Inc. in a settlement with the U.S. Securities and Exchange Commission (SEC). Based on the firm's cooperation with the investigation, the SEC refrained from imposing a civil penalty over the firm's alleged failure to register its crypto-lending product.
"When Linus made the decision to stop operating the investment accounts in March 2022, it asked investors to withdraw their previously invested money by April 2022, the SEC said. No more investor money remains in the accounts, according to the agency. Without admitting or denying wrongdoing, Linus agreed to cease and desist from further violations of the Securities Act. It will not face any monetary penalties from the SEC for its actions," according to the Law360 article.
Subscribers may read the full article by clicking here.
These materials have been prepared for informational purposes only and are not legal advice. This information is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Internet subscribers and online readers should not act upon this information without seeking professional counsel.