Ozy Media and its CEO, Carlos Watson, are in hot water. According to a Reuters report, Watson and his media company have been criminally charged for scheming to defraud investors of tens of millions of dollars by misrepresenting the company’s debts, financial performance, and audience size.
Feb 24, 2023
Former Boston Celtics athlete Paul Pierce will pay a hefty fine for withholding information.
Feb 21, 2023
Airbnb wants to give its hosts shares of its company, but it won’t be easy. On Friday, Airbnb sent a letter to the Securities and Exchange Commission (SEC) requesting changes to SEC Rule 701 that would allow a new class of shareholders for workers in the gig economy. Airbnb hosts are considered contractors, much like Uber drivers or Instacart shoppers, which do not have the same benefits as full-time employees or investors. “We believe that enabling private companies to grant hosts and other sharing economy participants equity in the company from an earlier stage would further align incentives between such companies and their sharing economy participants to the benefit of both,” Airbnb said in its letter. Airbnb’s request comes months after the company announced its plans to go public by June 2019. Airbnb risks running into other hurdles even if the SEC agrees to change its regulations. The current SEC rules state private companies with more than 2,000 shareholders or 500 or more...
Sep 26, 2018