Partners Patrick Bradford and Denver Edwards, co-authors of the amicus brief submitted to the Supreme Court in the case N.C.A.A. v. Alston, discuss the injustice of the N.C.A.A. athletic industry which capitalizes on the talent of young college athletes while simultaneously depriving them of quality education and the financial means to succeed in the future. While this case is rooted in issues surrounding anti-competition, is also serves as a call for justice on behalf of young, primarily black, athletes who are being exploited to perpetuate a capitalist agenda.
New York, January 25, 2021 – The SEC sent a message to public companies recently when it settled an investigation involving well-known eatery, Cheesecake Factory (see SEC Order). The company’s failure to make accurate disclosures about its financial condition, as prompted by Covid-19 realities, was egregious, yet the SEC’s order allowed the company to neither admit nor deny liability, to pay a civil money penalty of $125,000, a slap on the wrist for a public company, and agree to cease and desist from committing or causing any violations and any future violation of the reporting standards of Section 13(a) of the Securities Exchange Act of 1934 and Rules 12b-20 and 13a-11 thereunder. What is the message? The Staff is watching – closely.
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