LBRY, Inc. controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
SEC sues LBRY over alleged unregistered securities offering
Lawsuit filed
The SEC filed a complaint against LBRY, alleging that it offered and sold unregistered securities through LBRY Credits. The Commission sought an injunction, disgorgement, interest, and civil penalties; the allegations are not presented as a court finding.
Source excerpt
The Securities and Exchange Commission (SEC) filed a complaint in the District of New Hampshire on Monday against crypto-based decentralized publishing platform LBRY Inc. for allegedly offering unregistered securities in violation of the Securities Act of 1933.
Through its complaint, the SEC seeks a permanent injunction enjoining LBRY from engaging in this conduct or any other conduct relating to unregistered securities. Additionally, the SEC seeks disgorgement of ill-gotten gains, prejudgment interest, and civil penalties.