-
Experts urge caution as demand grows for AC in heatwave-hit UK
-
Immobilised by heatwave, handicapped man sues Austria in rights court
-
Thousands flee raging wildfires in southern Europe
-
Bellingham tells England to believe after Mexico masterclass
-
Tuchel hails 'heroic' England win in Mexico, but joy soured by Henderson injury
-
'Major' damage as super typhoon hits US islands
-
Bellingham savours 'best night of England career' after Mexico heroics
-
Kane says England found a way to win
-
Ancelotti fails in mission to end Brazil's World Cup woe
-
England, Norway advance at World Cup, FIFA ruling triggers uproar
-
Bellingham powers 10-man England past Mexico, into World Cup quarters
-
Asian markets mixed as tech recovery stutters, oil slips
-
Canada's McIntosh breaks 200 fly world record, oldest in women's swimming
-
Russia launches deadly barrage on Kyiv region on eve of NATO summit
-
Norway dance to Haaland's beat in 'surreal' World Cup run
-
'Major' damage as Super Typhoon Bavi hits US island of Rota
-
Daddy issues? NATO's Rutte sticks to charm to keep Trump on side
-
Australia signs defence alliance with Pacific nation Fiji
-
Norway's World Cup win over Brazil beyond my dreams, says Haaland
-
Philippine Senate trial to decide VP Duterte's political future
-
Neymar calls time on Brazil career after World Cup elimination
-
Australia PM apologises for Kylie Minogue comments
-
Ancelotti promises Brazil will bounce back after World Cup exit
-
BioNxt Advances GLP-1 Sublingual Semaglutide ODF Program with Next Stage of Delivery Development Underway
-
InterContinental Hotels Group PLC Announces Transaction in Own Shares - July 06
-
Penalty save inspired Norway, says 'keeper Nyland
-
Mexico-England World Cup match delayed one hour due to storms
-
As Venezuela quake deaths pass 3,000, attention turns to mourning, burials
-
Gotterup wins PGA John Deere after Kohles splashdown
-
FIFA clear US star Balogun to play in World Cup after Trump call
-
Haaland knocks Brazil out of World Cup as Norway reach quarters
-
Gauff downs Bencic to book maiden Wimbledon quarter-final
-
'Catastrophic' Super Typhoon Bavi hits US island of Rota
-
Spain boss backs Yamal to sparkle in Portugal World Cup showdown
-
West Indies trail Sri Lanka by 231 runs
-
Australia's World Cup final win vindicates Molineux's self-belief
-
FIFA clear US star Balogun to play after Trump call
-
Sinner powers into fifth straight Wimbledon quarter-final
-
Venezuela quake survivor 'reborn' after eight days in rubble
-
Euphoric homecoming for Cape Verde after heroic World Cup run ends
-
Red-card U-turn rocks World Cup as England face Azteca test
-
White supremacist march in DC just 'messy' democracy, official says
-
Struff oldest first-time men's Slam quarter-finalist in Open era
-
'Perfectionist' Djokovic not happy to win ugly at Wimbledon
-
Banana!: 'Minions' knocks 'Toy Story' off N.America box office perch
-
'Catastrophic' Super Typhoon Bavi aims at US Pacific island Rota
-
Sabalenka wants to drink, 'forget about tennis' after Wimbledon exit
-
Reflective Ronaldo takes on critics 'trying to kill me for 23 years'
-
Mooney stars as Australia hammer England in women's World Cup final
-
Verstappen claims Red Bull car 'dangerous' after crash
JOSIP HEIT AND GSB GERMANY REACH SETTLEMENT WITH STATE SECURITIES REGULATORS
Josip Heit, the Chairman of GSB Gold Standard Corporation AG (GSB Germany), GSB Germany, and certain affiliated companies, brands, and platforms have reached a settlement to resolve the civil investigations of U.S. state securities regulators in Alabama, Arizona, Arkansas, Georgia, and Texas, his lawyers announced today.
Under the terms of the settlement, Mr. Heit and the GSB entities will consent – without admitting or denying any violations of law or that any product offered by the GSB entities is a security – to cease-and-desist from offering or selling unregistered securities in the settling states.
As part of the settlement, the settling states will withdraw all prior allegations of fraud or dishonest practices, said Avi Perry and Alex Spiro, partners at Quinn Emanuel Urquhart & Sullivan, LLP who served as counsel for Mr. Heit and GSB Germany.
No monetary penalties will be imposed. Instead, Mr. Heit and the GSB companies have agreed to refund all eligible U.S. customers in the settling states. An independent claims administrator, AlixPartners, LLP, will accept claims from customers to determine eligibility for compensation. More information about the claims process will be publicized soon.
"We welcome this settlement," said Josip Heit, Chairman of GSB Germany. "We are committed to refunding all eligible customers through the claims process. Our customers always come first. Protecting the brand, our reputation, and our customers is our top priority."
"Since the start of this matter, our goal has been to reach a settlement that serves our customers," Mr. Heit added. "As Chairman, I am proud of this outcome. We cooperated fully with the U.S. state investigations, and we are working with our attorneys to ensure that any future U.S. business complies with all applicable legal requirements."
"This settlement—which includes no monetary penalty and withdraws all allegations of fraud—is an important milestone for Mr. Heit and his companies," said Perry and Spiro of Quinn Emanuel. "We are pleased to bring this matter to a successful close with a multistate resolution."
The settlement will become final upon conclusion of the claims process. In addition to Alabama, Arizona, Arkansas, Georgia, and Texas, other states will be given the opportunity to join the settlement on the same terms.
Quinn Emanuel Urquhart & Sullivan, LLP is a 1000+ lawyer business litigation firm—the largest in the world devoted solely to business litigation and arbitration with 34 global office locations. Surveys of major companies around the world have named it the "most feared" law firm in the world three times. Firm lawyers have tried over 2,500 cases, winning 86% of them. When representing defendants, Quinn Emanuel's trial experience gets better settlements or defence verdicts. When representing plaintiffs, Quinn Emanuel lawyers have won nearly $80 billion in judgments and settlements. Quinn Emanuel has also obtained seven nine-figure jury verdicts, four 10-figure jury verdicts, 51 nine-figure settlements, and 20 10-figure settlements.
Quinn Emanuel has been named the No. 1 "most feared" law firm by The BTI Consulting Group three times in its annual "Most Feared Law Firms in Litigation" guide, in which in-house counsel named 46 firms they "want to steer clear of" when it comes to litigation. The American Lawyer named Quinn Emanuel the top IP litigation firm in the U.S. and the firm as one of the top six commercial litigation firms in the country. The UK legal periodical, The Lawyer, named us "International Firm of the Year." Law360 has most recently selected us as having Banking, Class Action, International Arbitration, and Trials "Practice Groups of the Year."
Managing IP twice recognized us as having the "Best ITC Litigation Practice" and honoured us with the "Patent Contentious West" award. Legal Business has named us "US Law Firm of the Year" three times, and our German offices have twice been named both "IP Litigation Firm of the Year" and "Patent Litigation Firm of the Year" by JUVE, Germany's most prestigious legal publication. Global Investigations Review, a leading legal periodical covering global white-collar investigations, named us the "Most Impressive Investigations Practice of the Year."
Global Arbitration Review named us the 3rd best arbitration practice in the world. Global Competition Review named our antitrust and competition practice among the "25 Global Elite," and has included us in their list of the world's top 10 competition litigation practices.
M.King--AT