Kim Kardashian to pay $1.26 Million towards “Unlawful Touting” SEC Charges

* Rachel Gold is a law clerk in the Corporate/Securities Law practice group.

Following up on its action against other celebrities who have promoted crypto investments without disclosing their compensation interest, the Securities and Exchange Commissions (“SEC”) announced “unlawful touting” charges and Order against reality star Kim Kardashian for promoting a cryptocurrency on social media without acknowledging that she was being compensated for the post. This enforcement action is a reminder that it is not just the Federal Trade Commission (“FTC”) who is enforcing compensation disclosures on social media. Read More ›

CBD Again Rejected as a Dietary Supplement

While many marketers of CBD products label such products as “dietary supplements,” the FDA has made clear that it rejects the designation under the current regulatory standards.  The FDA’s recent pronouncement is consistent with its previously stated position that such products may not be marketed as dietary supplements because of a drug approval for the ingredient. Read More ›

The Legal 500 Publishes “United States: Pharmaceutical Advertising” Q&A by Lustigman and Spina

The Legal 500 published a Q&A authored by attorneys Andrew Lustigman and Morgan Spina, entitled “United States: Pharmaceutical Advertising” Read More ›

Andrew Lustigman Contributes to Business Ethics During COVID-19 Companies Digest Article

Andrew Lustigman, head of Olshan’s Advertising, Marketing & Promotions Practice Group, was featured in a Companies Digest article comprising assessments by leading business law attorneys. Read More ›

SEC Brings Enforcement Actions Against Companies for Misleading COVID-19 Claims

The U.S. Securities and Exchange Commission (the “SEC”) filed enforcement actions on May 14, 2020, against two unrelated companies, Turbo Global Partners, Inc. (“Turbo”) and Applied BioSciences Corp. (“APPB”). The SEC charged both companies with securities fraud based on alleged materially misleading statements that the companies were offering and shipping products to combat the coronavirus (COVID-19). These actions taken by the SEC are consistent with approaches taken by other regulators, including the Federal Trade Commission and Food and Drug Administration (the “FDA”), with regard to misleading statements made in connection with coronavirus-related products. On the whole, regulators appear to be particularly cognizant of businesses and individuals seeking to take improper advantage of the circumstances created by the global pandemic, and as such are taking action against such companies and individuals. Read More ›

Andrew Lustigman Quoted in Bloomberg Law on DOJ’s, FTC’s and FDA’s Attack on Coronavirus Fraudsters

Andrew Lustigman, head of Olshan’s Advertising, Marketing & Promotions Practice Group, was quoted in a Bloomberg Law article on the coordinated attack on coronavirus scams led by The Justice Department (“DOJ”), the Federal Trade Commission (“FTC”), and the Food and Drug Administration (“FDA”). All three agencies have filed charges against and have sent warning letters to people and companies for advertising unapproved COVID-19 treatments or preventatives. Given the import that these efforts have to public health during the pandemic, the agencies’ attention is intensely focused on preventing coronavirus fraud, so while the DOJ is investigating a wide range of fraudulent activity, the FTC and the FDA are evaluating false claims about treatments and cures. “That intensity is shown by how quickly the agencies are taking cases to court and asking for orders to stop the fraudsters,” said Mr. Lustigman. Wasting no time, the DOJ has filed at least four civil lawsuits against people allegedly selling fraudulent cures/treatments, obtaining temporary restraining orders against three of the defendants. The FTC and FDA, meanwhile, have sent warning letters both to sellers of unapproved treatments and to multi-level marketing companies for unsubstantiated claims made by their independent distributors.

FDA and FTC Send Warning Letters to Companies Claiming That Products Can Help Boost Immune Systems Relating to Coronavirus Prevention

The FDA and FTC have issued joint warning letters to companies selling products that they claim are able to treat or prevent coronavirus. The regulators sent the first set of such warning letters to several companies on March 6, 2020 and have continued to send such warning letters since. Read More ›

Olshan's 2020 Hot Topics in Advertising Law

Happy holidays! As we enter a new year, Olshan’s Advertising & Branding groups share their list of current hot topics in advertising law. In no particular order (drum roll please), here is our top 10 list: Read More ›

FDA Will No Longer Give Special Treatment for Homeopathic Drug Products

The U.S. Food and Drug Administration (“FDA”) has announced its intent to withdraw its Compliance Policy Guide 400.400 (1988) (“CPG 400.400”) for homeopathic drug products pursuant to which such products have been  permitted to be marketed without having to comply with the new drug, adulteration and misbranding requirements that are otherwise applied to all drug products. Under CPG 400.400, homeopathic drug products were permitted to be manufactured and marketed without the FDA approval applicable to all other drug products.  However, due to certain incidents involving improperly manufactured homeopathic drug products, in 2017 the FDA announced its intention to switch to a risk-based enforcement approach for unapproved homeopathic drug products. Read More ›

FTC and FDA Send Warning Letters to E-Liquid Companies Related to Deficient Social Media Endorsements

As we have discussed in a prior post, the FTC and FDA have been involved in a joint effort to curb non-compliant labeling and/or advertising of e-liquids for use in e-cigarettes. For the most part, the agencies have been focused on protecting children and young people from the dangers of nicotine and tobacco products by cautioning manufacturers, distributors and retailers of e-liquid products against using labeling, packaging and/or advertising that resembles children’s food products, like juice boxes, candies or cookies. Read More ›