According to Law360, Hologram USA Networks CEO Alki David sold $100,000 worth of unregistered shared ahead of an aborted IPO and misled investors about having rights to various 3D performances, the U.S. Securities and Exchange Commission said.
Tuesday, October 01, 2019
Hologram Firm Faces Charges For Misleading Investors
According to Law360, Hologram USA Networks CEO Alki David sold $100,000 worth of unregistered shared ahead of an aborted IPO and misled investors about having rights to various 3D performances, the U.S. Securities and Exchange Commission said.
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I think this lawsuit is something really intriguing regarding the advancement of technology and the idea that laws are going to have to evolve alongside of technology in order to regulate the industry properly. Taking into account the governmental systems in place I find it unlikely that the system will be capable of keeping up with the pace of technological advancement as it is now not to mention in the future. However the idea of copyright and artistic content is so crucial that the evolution has to happen but I think it’ll likely happen through a series of lawsuits similar to this one which will serve to create guidelines. Unfortunately I think it is more than likely that some individuals who are aware of the inability of government to keep up with industry will take any opportunity to profit from an under regulated industry as long as possible. Of course with an article as short as this I can’t fully understand these circumstances in particular but I wouldn’t be surprised if the company was pushing the line of what is acceptable in order to sell more stocks in the company.
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