Kik Settles Unregistered Token Sale for $5 Million
On October 21, 2020, the United States District Court for the Southern District of New York (SDNY) entered a final judgment on consent against Kik Interactive Inc. (Kik) after the Court previously determined that Kik failed to comply with the registration requirements of the Securities Act of 1933[1] (Securities Act) as previously alleged by the Securities and Exchange Commission (SEC).[2] In the settlement, Kik agreed to (i) pay a $5 million penalty to the…