Taking off our attorney hats in support of World Anti-Counterfeiting Day
World Anti-Counterfeiting Day took place on June 8 and was a good time to focus on the pervasive dangers of counterfeiting. Counterfeiting has always caused grave concern to brand owners, as counterfeit goods can reduce sales of legitimate goods, force brand owners to spend time and money combatting the importation and sale of illegal goods, and erode the goodwill associated with a brand. Equally important, counterfeiting harms consumers, as counterfeits can pose serious health and safety risks.
Combatting counterfeiting takes a collective effort by a variety of stakeholders, from brand owners to online marketplaces, e-commerce providers, social media, and governmental institutions, to name a few. As attorneys, such stakeholders rely on us to provide guidance in implementing effective brand protection programs and anti-counterfeiting strategies. However, in focusing on our client’s needs and the opportunities that clients have to combat counterfeiting, we may sometimes lose sight that we, as consumers, can play just as vital a role in the fight.
Cryptocurrency Insider Trading Case Could Have Broader Ramifications for the Industry
Skadden, Arps, Slate, Meagher & Flom LLP
On July 21, 2022, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) each brought insider trading charges against a former Coinbase product manager, his brother and a close friend for using material non-public information (MNPI) to purchase a variety of crypto assets prior to announcements by Coinbase that the assets would be listed on the company’s platform.
This is the first time an insider trading case has been brought by the DOJ or SEC relating to fungible tokens, and comes on the heels of the first-ever DOJ indictment for alleged insider trading related to non-fungible tokens (NFTs).