Nima H. Mohebbi

Feb 26, 2024 | lexology.com | Ghaith Mahmood |Nima H. Mohebbi

Companies selling or leasing consumer goods or services should be alert to a recent rash of lawsuits targeting terms of service provisions. A recent spate of class action lawsuits brought under California Civil Code section 1670.8 raises the specter of liability for companies whose online terms of use include provisions that plaintiffs allege limit consumer reviews. Although section 1670.8 is not new legislation, it has been seldom litigated since going into effect on January 1, 2015.

Sep 20, 2023 | lexology.com | Ghaith Mahmood |Nima H. Mohebbi |Stephen Wink |Douglas K. Yatter |Adam Zuckerman |Luca Marquard | +1 more

In its second action involving NFTs, the SEC targets an offering tied to fundraising and promises of future value. On September 13, 2023, the Securities and Exchange Commission (SEC) issued a cease-and-desist order (the Order) against Stoner Cats 2, LLC (SC2) for an alleged unregistered securities offering relating to SC2’s sale of $8.2 million worth of non-fungible tokens (NFTs).

Aug 31, 2023 | jdsupra.com | Deric Behar |Ghaith Mahmood |Nima H. Mohebbi

In its first enforcement action involving NFTs, the SEC focused on issuer marketing that promised outsized returns on investment and platform building. On August 28, 2023, the Securities and Exchange Commission (SEC) issued a cease-and-desist order (the Order) against a Los Angeles media and entertainment company (the Company) for an unregistered securities offering relating to its sale of $29.9 million worth of non-fungible tokens (NFTs)[1].

Aug 29, 2023 | lexology.com | Ghaith Mahmood |Nima H. Mohebbi |Stephen Wink |Douglas K. Yatter |Adam Zuckerman |Deric Behar

In its first enforcement action involving NFTs, the SEC focused on issuer marketing that promised outsized returns on investment and platform building. On August 28, 2023, the Securities and Exchange Commission (SEC) issued a cease-and-desist order (the Order) against a Los Angeles media and entertainment company (the Company) for an unregistered securities offering relating to its sale of $29.9 million worth of non-fungible tokens (NFTs)[1].

Jul 14, 2023 | jdsupra.com | Deric Behar |Nima H. Mohebbi

[co-author: Peter Trombly]The viability of DAO structures draws attention after a judge declares that a decentralized autonomous organization is a “person” under the law.  On June 8, 2023, the US District Court for the Northern District of California granted the Commodity Futures Trading Commission (CFTC) a default judgment against Ooki DAO, a decentralized autonomous organization (DAO) that the CFTC charged in September 2022 with three violations of the Commodity Exchange Act (CEA).